₦airaland Forum

Pharaohny:
Have you read about the Supreme Court order on the current currency implementation issue? Please note this legal opinion on the matter - The deadline won't change. Neither CBN or the commercial banks was joined as parties to this suit. The 3 state governments simply took advantage of the fact that in matters purely between the state and the FG the supreme court can serve as a court of first and only instance. Joining CBN in the matter would immediately rob the supreme court of jurisdiction. Sadly, the attorney general cannot issue a binding order on the CBN governor, the CBN act didn't contemplate such and the interim order is simply an academic attempt at grandstanding. They're indeed forces determined to derail the forthcoming elections and trigger social unrest. If your ATM card is working go to any large supermarket and stock up. The next 3 weeks are exciting times to come. I forgot to add that only CBN is empowered by law to determine what is termed legal tender. As for this set of JSCs, they've taken judicial rascality to the high heavens. One day soon we will put the searchlight on how supreme these odoriferous judges have become



This is a professional advice coming from a lawyer, pls let's brace up and stock up for the coming days are filled with uncertainty but in d end everybody go dey alright



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God bless you. I have stopped arguing with people concerning the CBN order. We need to educate the masses on the rule of law and the Nigerian constitution. 99% of Nigerians have zero idea of what the constitution is all about. Its a shame.

However, a senior lawyer, Professor Konyinsola Ajayi, yesterday, said the CBN was free to carry on with the cash swap policy, despite the court ruling. He stated that the CBN, not being a party before the Supreme Court, hence the court was not expected to grant an order against a person not before it; not sued or not heard.

He said, “The CBN is free to carry on with its policy on currency redesign taken in accordance with the plenitude of its powers under both the CBN Act and Currency Control Act. It is fitting to note that just about six weeks ago (on 02/12/22) the SCN held in the case of Adedeji & ors. v CBN that CBN is independent by law and can’t be controlled by FGN.”

Parachoko:
The CBN and the FG do not have a choice but to respect the order

You still don't understand.
Read below.

However, a senior lawyer, Professor Konyinsola Ajayi, yesterday, said the CBN was free to carry on with the cash swap policy, despite the court ruling. He stated that the CBN, not being a party before the Supreme Court, hence the court was not expected to grant an order against a person not before it; not sued or not heard.

He said, “The CBN is free to carry on with its policy on currency redesign taken in accordance with the plenitude of its powers under both the CBN Act and Currency Control Act. It is fitting to note that just about six weeks ago (on 02/12/22) the SCN held in the case of Adedeji & ors. v CBN that CBN is independent by law and can’t be controlled by FGN.”

Lemos14:
Abeg make person answer me make I know wetin to do cause I have like 7k old notes with me and I'm wondering if i should sell them all out tommorow

I will suggest you deposit it in your account for now.

olisefom:
I will suggest you deposit it in your account for now.

It's already late. Check the CBN website

valicious1:
It's already late. Check the CBN website

I think the bank will still accept it today 10th.

JoeNL22:
You still don't understand.
Read below.

However, a senior lawyer, Professor Konyinsola Ajayi, yesterday, said the CBN was free to carry on with the cash swap policy, despite the court ruling. He stated that the CBN, not being a party before the Supreme Court, hence the court was not expected to grant an order against a person not before it; not sued or not heard.

He said, “The CBN is free to carry on with its policy on currency redesign taken in accordance with the plenitude of its powers under both the CBN Act and Currency Control Act. It is fitting to note that just about six weeks ago (on 02/12/22) the SCN held in the case of Adedeji & ors. v CBN that CBN is independent by law and can’t be controlled by FGN.”

Forget all this your garbage explanation.

The Supreme Court Judgement is final, the old and new notes remain legal tenders till Feb 15.

Lemos14:
Abeg make person answer me make I know wetin to do cause I have like 7k old notes with me and I'm wondering if i should sell them all out tommorow

You better hold on to your old notes and spend it as you need it. If you sell it today, you will pay a lot to buy it back tomorrow

valicious1:
It's already late. Check the CBN website

They will still accept the old notes today...its after today that it will be invalid.

Lemos14:
Abeg make person answer me make I know wetin to do cause I have like 7k old notes with me and I'm wondering if i should sell them all out tommorow

what are you still doing with such amount of old notes?

Lemos14:
The way the CBN is behaving is really confusing...are the old notes still going to be a valid legal tender till the 15th or it becomes invalid tommorow because I'm not understanding again

Omo I get old Naira note way reach 50 k with me for UK. Chai

Wahala be like bicycle.

silvermania:
what are you still doing with such amount of old notes?

I withdrew 10k on Wednesday at a POS because I really needed cash and didnt want to be stranded by any online transaction...I guess you know how queues are for cash

I dy bank like this, new note I no see even the old note no dy available.

Lemos14:
I withdrew 10k on Wednesday at a POS because I really needed cash and didnt want to be stranded by any online transaction...I guess you know how queues are for cash

How much for 10k?

Lemos14:
Abeg make person answer me make I know wetin to do cause I have like 7k old notes with me and I'm wondering if i should sell them all out tommorow

If u are in Kaduna state, keep them.

If you are in Nigeria, go and deposit it to the nearest bank. .

The bikeman I took this morning rejected the old note.

He said it was announced today that they should stop accepting them.

longview007:
If u are in Kaduna state, keep them.

If you are in Nigeria, go and deposit it to the nearest bank. .

😂😂

Lemos14:
If you have nothing meaningful to contribute why not just skip?...you didnt answer my question anyway

he answered ur question fine, u are just too short sighted to see it... The last line was the answer to your question... It is better safe than sorry, that's what he meant by supreme court won't collect old naira from u... It is better u deposit it before 2pm today if the CBN does not give further comment on the matter, aren't u Suprise that the CBN and banks are silent to the supreme court ex parte order?? So u want to take their silence as agreement? Are u willing to risk it 7k for it

Don't wait till the last minute because banks doesn't operate during riots.

No one is sure that bank would open on the 17th

Yes

marlow1962:
How much for 10k?

Omo she charge me 2k oo...and me I didnt have strength to argue cause I really needed that cash

Lemos14:
Abeg make person answer me make I know wetin to do cause I have like 7k old notes with me and I'm wondering if i should sell them all out tommorow

abobi enter the nearest beer parlour and enjoy urself, thank God is weekend.

Lemos14:
Abeg make person answer me make I know wetin to do cause I have like 7k old notes with me and I'm wondering if i should sell them all out tommorow

They're useless now,shey anybody stopped you from going to deposit it since?

OgaTheTop2:
Naira has officially been redesigned.

Keep your propagandas

longview007:
If u are in Kaduna state, keep them.

If you are in Nigeria, go and deposit it to the nearest bank. .

elrufia go deny una oo

jasent:
They're useless now,shey anybody stopped you from going to deposit it since?

Banks are still accepting throughout today...its after today that they won't accept it again

Wahala

Is the CBN website functional?

Go and deposit any old naira you have and don't collect old naira from anyone. The truth is you don't need to be caught up with the power play. From objective view since CBN and Banks are not joined in the suit, they will go ahead to implement the policy and besides most of the old notes have been returned. I hardly see people spending the old notes meaning anyone with old notes now is on the minority. Even if peradventure it extended the deadline it won't make difference because old notes are no longer circulating. I only pity people destroying bank structures, because they are making it difficult for themselves. Nigerians are actually problem to themselves.