Old Naira Remains Legal Tender as Supreme Court Adjourns Till February 22

Nigeria’s supreme court has adjourned the hearing of the case brought against the Central Bank of Nigeria (CBN) on the naira redesign policy.

The one week extension means the legal tender status of the old Naira remains till February 22. 

Ruling on an exparte application, the court had last Wednesday granted an interim injunction restraining the Federal Government from implementing the CBN’s February 10 deadline for the swapping of the old naira notes with the new ones.

Despite the court staying silent on the  order this Wednesday, some lawyers have argued that the order could not have lapsed since the motion on notice upon which it was premised has not been heard. They therefore argue that the order subsists.

Also, the court joined the Attorneys General of Katsina, Lagos, Ondo, Ogun, Ekiti and Sokoto States as co-plaintiffs.

The Attorneys General of Edo and Bayelsa states were joined as co-respondents.

The court ordered the original plaintiffs and the respondent – the Attorney General of the Federation – to amend the processes already filed to reflect the new parties.

The case has now been adjourned to February 22nd for continuation.

Tobi Soniyi 

Editor’s Note: This story was amended to reflect a subsisting ex parte motion. 

Follow us on: