Contrary to the Supreme Court’s order prohibiting the Federal Government from enforcing the February 10 deadline previously set by the apex bank for the currency swap, several commercial banks and gas stations have ceased accepting old naira notes from consumers.
Bank customers and point-of-service employees flocked to deposit their old N1,000, N500, and N200 notes, but the banks refused to take them.
Point of service workers and other bank clients who had their old naira notes refused panicked while bank staff, who insisted they were following a direction from the Central Bank of Nigeria, stayed steadfast.
Additionally, attorneys and plaintiffs in Lagos State’s high courts were unable to submit court documents by paying with obsolete naira notes.
The CBN Governor, Godwin Emefiele, met with President Major General Muhammadu Buhari (retd.) once more on Monday at the Presidential Villa as the naira situation grew worse.
Since the naira crisis began, Emefiele has met with the President roughly six times. As he allegedly exited the residence by a side door, he did not face the press.
On February 8, the governments of Kaduna, Kogi, and Zamfara states obtained an injunction from the Supreme Court extending the CBN-imposed deadline for the use of the old notes through last Friday.
The deadline was postponed until Wednesday, when the procedures will continue even though more states have submitted applications to join the lawsuit, according to an order from a seven-member panel of the supreme court chaired by Justice John Okoro.
But our correspondent who visited the Mobil filling station at First Gate bus stop along Lagos-Badagry Expressway observed that the attendants refused to accept the old naira notes on Monday.
Checks also showed that banks in the Ikeja area of Lagos State refused to collect the old notes from customers.
Some frustrated and desperate customers were seen making frantic calls to their friends and loved ones intimating them of the development.
Also in the Badagry area of Lagos, several bank customers and PoS agents who visited banks on Monday were shocked to learn that the banks were not accepting the old notes.
A resident, who identified himself simply as Mr Julius said the branches of Access Bank and UBA in the town refused to accept the old currencies from depositors.
Speaking to our correspondent on the phone, he said, “What is happening in his country? My wife visited UBA only to be informed that the bank was no longer accepting the old notes. Some PoS agents who visited Access Bank were also informed that the bank was no longer accepting the old notes based on a directive from the CBN. I thought the Supreme Court ruled that the notes are still legal tender.’’
