The senior lawyer described the President’s speech as going against the Supreme court’s ruling which had earlier asked the CBN to shelve its earlier announced deadline date until the courts rule on the matter.
The President this morning during a nationwide broadcast, announced that for the next 60 days from February 10, 2023, till April 10, 2023, only the old N200 banknote will remain in circulation while the old N500 and N1,000 notes will seize to be legal tender and will only be received at designated branches of the Central Bank of Nigeria.
The Supreme Court during its sitting on Wednesday, 15, 2023 to hear the case instituted by 12 state governors adjourned the hearing to February 22, 2023, while also declaring that its earlier announcement asking the CBN to hold on with its planned deadline subsists.
