“What goes around must surely comes around,” its a law of karma. As the drama between the Central Bank of Nigeria and the Supreme Court of Nigeria continues over the naira redesign policy, traders and transporters have ignored CBN’s orders.
Four days after the expiration order of the CBN on the old naira notes, traders and transporters around the Lagos metropolis have ignored the CBN, transacting business with the old N200, N500, and N1,000 notes.
These traders have said pending the wait for the Supreme Court verdict on Wednesday, February 15, 2023, over the fate of the old notes, they will continue to trade with the old naira notes because they are still a legal tender.
Recall that the Supreme Court of Nigeria temporarily suspended the CBN’s February 10, 2023 deadline.
Though the federal government spoke through the attorney general of the federation that it would obey the Supreme Court order, commercial banks and other financial institutions are sticking to the CBN deadline of February 10, 2023, until there is a directive to the contrary.
