The Jigawa State Government has vowed to enforce the Supreme Court order restraining the Federal government from banning the old naira notes as legal tender.
The Nation reports President Buhari had on Thursday said that old ₦500 and ₦1000 notes are no longer legal tender in the country, directing the CBN to release old N200 notes into circulation as legal tender for the next 60 days.
According to the public notice, commercial banks, corporate organizations, ministries, agencies, and traders must accept the old notes or face sanctions from the state government.
As a law-abiding Government, there are suits by various State Governments of which Jigawa State is among before the Supreme Court of Nigeria. The court has issued an order restraining the Federal Government of Nigeria, either by itself or acting through the Central Bank of Nigeria (CBN) and/or commercial banks, ministries, parastatals, organisations or through any person or persons (natural and artificial) howsoever, from suspending or determining or ending on 10 February, 2023 the time frame within which the now older versions of the 200, 500 and 1000 denominations of the naira may no longer be legal tender pending the hearing and determination of the motion on notice.
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