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The Presidency has dismissed as false the assertion that the Federal Authorities or the Central Financial institution of Nigeria (CBN) had refused to recognise previous N200, N500 and N1,000 notes as authorized tender regardless of a Supreme Court docket ruling.
The Information Company of Nigeria (NAN) experiences that Zamfara, Kaduna and Kogi had approached the Supreme Court docket of Nigeria for reliefs on behalf of their residents to problem the Feb. 10, CBN deadline for previous naira notes to stop to be authorized tender.
The Supreme Court docket in its ruling on Feb. 8, directed all events to keep up the established order and quashed the Feb.10, 2023 deadline until the willpower of the case which was adjourned to Feb. 15, 2023.
Nevertheless, monetary establishments together with banks in addition to filling stations, supermarkets and different enterprise homeowners have continued to reject the previous Naira notes regardless of the Supreme Court docket ruling.
Some banks have been reported to have primarily based their choice of rejecting the previous notes on a circulation emanating from the CBN.
The Governor of the CBN was additionally quoted at a gathering with diplomats in Abuja on Tuesday as saying that the previous notes have been not authorized tender from Feb. 10, 2023.
Malam Garba Shehu, the President’s spokesman, late Tuesday night time in an announcement, nonetheless, stated:
”We want to state that it’s not true that the Federal Authorities or the Central Financial institution of Nigeria, CBN have taken a preemptive motion on the legality of foreign money as a authorized tender in view of the pendency of the case earlier than the Supreme Court docket.
”The place of the federal government and the CBN might be made recognized upon the willpower of the go well with arising tomorrow.”
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