Naira Scarcity: ‘It Is Not True’ – Presidency Speaks On Taking Decision On Legality Old Naira Notes

The Federal Government has said that it will take a decision on the legality of the old currency notes of N200, N500 and N1000 after the determination of the suit filed by some state governments at the Supreme Court.

Naija News recalls that three states, Kogi, Kaduna and Zamfara had dragged the federal government to the Supreme Court, seeking the extension of the February 10 deadline by the  Central Bank of Nigeria (CBN) should be extended.

The court had fixed February 15 to detetmine the suit.

The apex bank has however stated that the February 10 deadline stands and the old notes are no longer legal tender.

But the Federal Government when contacted by Vanguard to comment on the situation said that a decision will only be made after the determination of the suit in the Supreme Court today.

The Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu said: “We wish to state that it is not true that the Federal Government or the Central Bank of Nigeria, CBN, have taken a preemptive action on the legality of currency as a legal tender in view of the pendency of the case before the Supreme Court.

“The position of the government and the CBN will be made known upon the determination of the suit coming up tomorrow.”