Abubakar Malami, the federation’s solicitor general, and Nigeria’s minister of justice have received notice of the Supreme Court’s decision over the redesign of the naira.
This suggests that there is no justification for failing to abide by the decision.
In a document obtained by BusinessDay, the Supreme Court’s drawn-up orders in the currency redesign issue are included, along with documentation that the Attorney-General of the Federation was served with the orders.
On the last page of the document, paragraphs 9 and 10 stated that the old N200, N500, and N1,000 naira notes would remain legal tender in addition to the new or redesigned versions until December 31, 2023, and that the acceptance of the old notes and their exchange for the new notes would also continue until that date.
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An expert noted that the paragraphs in particular remove any further justifications from the President, AG Federation, and Governor CBN for not following the instructions.
The papers were served on Friday, a source said.
“I anticipate that the CBN will send banks instructions announcing that the 500 and 1000 notes will be freed and instructing them to reintroduce them into circulation. Till Monday at the latest. That is easy to understand. The source responded, “Let’s see what they do.
