BREAKING: Old Naira Notes Remain Legal Tender As Supreme Court Suspends February 10 Deadline For Naira Swap

Odili Ogochukwu –

From all indications, old naira notes would remain a legal tender as Supreme Court of Nigeria has suspended the February 10, 2023, deadline for naira swap.

The apex court denied the Central Bank of Nigeria (CBN) and Federal Government from ending the legal tender statuses of old N200, N500 and N1000 banknotes on February 10, 2023.

The court gave the injunction in connection with the suit brought before it by three State governments challenging the decision of FG and CBN to wipe off the said old naira notes.

The plaintiff were governments of Kaduna, Zamfara and Kogi States who approached the Supreme Court seeking an order to stop the CBN cashless policy.

This new development demonstrates that Nigerians who have been greeted with untold hardships occasioned by the scarcity of old and new naira notes will bounce back to their day-to-day activities without hitches.

Reacting to Supreme Court judgment, the Director of Judec Electronics, Laffia, Nasarawa State, Mr Jude Okwuonye lamented that Nigerian governments have oftentimes got it wrong in all spheres of human endeavors, describing the judgment as futile effort.

He said that there is no gain extending or suspending the February 10, 2023, deadline for naira swap after all common Nigerians have suffered recently.

According to him, “There is no need for suspension or extension of the deadline for swap of the affected old naira notes after the hardships we went through. This government is playing with human lives.

“For some days, we recorded poor patronage because people were not having money to pay for goods and services rendered with no food to eat. Today, you are telling us that it has been suspended. Suspend what? It doesn’t make any sense. The government should be up and doing. And have regard for human life.”