• Contact Us
  • About Us
Wednesday, February 15, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home News

Presidency Insists No Pre-Emptive Action On Currency Swap yet, Assures FG, CBN Take Position After S’Court Determination Today

metro by metro
February 15, 2023
in News
0
CBN
0
SHARES
0
VIEWS

 

The presidency yesterday disclosed that neither the federal government nor the Central Bank of Nigeria (CBN) had taken a pre-emptive position on the legality of the old N200, N500 and N1,000 notes in view of the case pending before the Supreme Court, which comes up for hearing today.

In a statement by its spokesperson, Mallam Garba Shehu, the presidency said the federal government’s position on the currency swap would be made public after the determination of the suit.

The statement said, “Following series of enquiries, we wish to state that it is not true that the federal government or the CBN has taken a pre-emptive 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 Wednesday.”

The Supreme Court had in a ruling on February 8 suspended the CBN’s February 10 deadline to stop the use of old currency notes.

The bank had ordered citizens to swap out old N1, 000, N500, and N200 banknotes for a redesigned currency by the deadline.

But the apex court, ruling in an ex parte application by three states – Zamfara, Kogi and Kaduna – stopped the CBN from banning the old notes pending the hearing and determination of the case. It fixed February 15 for hearing.

However, governor of CBN, Godwin Emefiele, yesterday, said the apex bank had noticed that some politicians were buying the new N200, N500 and N1, 000 for political purposes.
ALSO READ:CBN Provides Steps, Window For Deposit Of Old Notes In New Guidelines 
That was as a coalition of 472 civil society organisations (CSOs) alleged yesterday at a press conference in Abuja that 10 state governors were mopping up the new naira notes in circulation in order to discredit the policy.

Addressing the diplomatic community in Abuja, the CBN governor craved the support and understanding of the foreign missions and Nigerians, in general, towards the implementation of the cashless policy and in achieving the overall objectives of the naira redesign programme.

“The CBN has also noticed that some politicians are buying the new notes and storing them for political purposes,” he said.

Read Also

February 10 Deadline For New Notes Stands, Emefiele, Says No Need for Extension

FG: Why Supreme Court Should Strike out Suit against Naira Redesign

Malami Asks Supreme Court To Dismiss Naira Redesign Suit, Says Case Outside Original Jurisdiction Of Court

Previous Post

CBN Provides Steps, Window For Deposit Of Old Notes In New Guidelines 

Related Posts

Godwin Emefiele
News

February 10 Deadline For New Notes Stands, Emefiele, Says No Need for Extension

February 14, 2023
Naira Notes: CSOs Ask CJN To Vacate Supreme Court Order As Tinubu Hails Judgement 
News

FG: Why Supreme Court Should Strike out Suit against Naira Redesign

February 9, 2023
Malami Asks Supreme Court To Dismiss Naira Redesign Suit, Says Case Outside Original Jurisdiction Of Court
Breaking

Malami Asks Supreme Court To Dismiss Naira Redesign Suit, Says Case Outside Original Jurisdiction Of Court

February 9, 2023
Naira Notes: CSOs Ask CJN To Vacate Supreme Court Order As Tinubu Hails Judgement 
Breaking

Naira Notes: CSOs Ask CJN To Vacate Supreme Court Order As Tinubu Hails Judgement 

February 8, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CBN

Presidency Insists No Pre-Emptive Action On Currency Swap yet, Assures FG, CBN Take Position After S’Court Determination Today

February 15, 2023
CBN

CBN Provides Steps, Window For Deposit Of Old Notes In New Guidelines 

February 14, 2023
Godwin Emefiele

February 10 Deadline For New Notes Stands, Emefiele, Says No Need for Extension

February 14, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version