Central Bank of Nigeria (CBN) on Monday finally instructed banks to comply with the ruling of the supreme Court ruling of March 3, 2023 on the legal tender status of the old N1,000, N5,000 and N200 banknotes.
The statement signed by CBN’s acting Director of Corporate Communications, Isa AbdulMumin is coming few hours after president Muhammadu Buhari disowned Godwin Emefiele, CBN Governor and Abubakar Malami, minister of justice over their refusal to obey the Supreme Court judgement on the old notes.
But most Nigerians believe the development amounts to abdication of responsibilities by government and its functionaries.
According to the statement, the decision to comply with the court ruling on the old banknotes was in accordance with the tradition of obedience to court order and sustenance of the rule of law by the Buhari administration as well as CBN.
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