BREAKING: CBN Reacts To Supreme Court’s Order On Naira Redesigning

Following the Supreme Court’s order that old N200, N500, and N1,000 notes remain legal tender until December 31, the Central Bank of Nigeria, (CBN) has chosen to remain silent.

This suggests that the CBN may have abdicated her duties as an institution governed by the law and Nigeria’s Constitution and delegated responsibility for speaking out on the naira redesign to the Federal Government.

Asked if the Supreme Court order will truncate the CBN’s cashless policy, the official said “that is unlikely to happen since the policy has been in operation since 2012”.

“The CBN is a law-abiding organization that operates as an extension of the Executive arm of government,” said a CBN official who agreed to speak to DECENCY GLOBAL NEWS about the matter.

Reacting to the Supreme Court order, Professor Uche Uwaleke of Nasarawa State University, advised the CBN “to comply with the ruling since it has come from the final court in the land.

“Doing so will help revive economic activities and reduce the current difficulties being experienced by Nigerians on account of the policy.”

Asked if the Supreme Court order will truncate the CBN’s cashless policy, the official said “that is unlikely to happen since the policy has been in operation since 2012”.

Reacting to the Supreme Court order, Professor Uche Uwaleke of Nasarawa State University, advised the CBN “to comply with the ruling since it has come from the final court in the land.

“Doing so will help revive economic activities and reduce the current difficulties being experienced by Nigerians on account of the policy.”