Old Naira Notes Remains A Legal Tender – Supreme Court

The Supreme Court made it known on Wednesday that the old 200, 500, and 1000 naira notes remains a legal tender.

The apex court maintained that the February 8 hearing which paused the implementation of the February 10 deadline ban on the use of old naira notes still subsists.

The court issued the clarification in response to a complaint by Abdulhakeem Mustapha (SAN), a lawyer for Kaduna, Kogi, and Zamfara states, that the Federal Government and its agencies had failed to comply with the order and had allegedly directed the rejection of the old notes.

According to Mustapha, the plaintiff filed a notice of noncompliance with the court order issued on February 8, and demanded that the court take action against the respondent in order to protect the court’s dignity.

Justice John Okoro, who presided over a seven-member panel of the court, asked Mustapha to file a proper application to put forward his complaints and to enable the respondent to respond appropriately.

Justice Okoro disclosed there was no need for a renewal of the court’s order.

Mustapha, while addressing newsmen in Abuja after the Supreme Court adjourned the case to February 22, said, “We made point in the court that the court order on February 8 is still effective and is still subsisting and I’m here to confirm that, and the implication of that is that the old notes still remain as legal tender and the policy or directive given by the CBN governor becomes inconsequential in the light of the fact that the court has extended the lifespan of the interim order it granted on February 8 to the effect that both the old notes and the new notes are still legal tender until motion or notice taken on Wednesday.

“That is the current position as at now and any other step contrary to that will be in contravention to the order of the court.”