Cash Swap: Federal Govt, CBN Haven’t Disobeyed Supreme Court Order – Presidency

The Presidency has dismissed insinuations that the federal government and the Central Bank Of Nigeria (CBN) have disobeyed the Supreme Court order on the Naira swap policy deadline by the apex Bank.

Recall that despite the Supreme Court order that all parties should maintain status quo after three states dragged the federal government to the apex court on the policy, the CBN has said the old Naira notes cease to be a legal tender from February 10 deadline.

However, presidential spokesman, Garba Shehu, in a statement on Tuesday evening, said the position of the government and CBN will be made on Wednesday upon the determination of the suit by the Supreme Court.

The Presidential aide 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 (Wednesday).”