The Supreme Court has declared that its February 8 order restraining the Federal Government and the Central Bank of Nigeria (CBN) from implementing the February 10 deadline for the use of old 200, 500 and 1,000 naira notes is still valid.
Justice Inyang Okoro, who presided over a seven-member panel of the court, insisted that the February 8 order which halted the implementation of the deadline, still subsists since the motion was not yet heard.
The court made the clarification on Wednesday, February 15, 2023, in reaction to the observation made by counsel to Kaduna, Kogi and Zamfara states, Abdulhakeem Mustapha (SAN).
The lawyer had told the apex court that the central government and CBN have failed to comply with the court’s order, by directing the banks to reject the old naira notes.
Mustapha demanded that the court take action against the respondent to protect the dignity of the court.
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He said: “That order has been flouted by the government. We are talking of executive lawlessness here. We have filed an affidavit to that effect. We want the court to renew the order for parties to be properly guided.”
Kaduna, Kogi and Zamfara states had specifically applied for an order of Interim Injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on February 10, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.
Delivering ruling in the motion, Justice Okoro held that after a careful consideration of the motion exparte this application is granted as prayed.
“An order of Interim Injunction restraining the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on Feb. 10,, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.
The apex court has adjourned until February 22, for hearing of the main suit.
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