The Federal Government has said it would obey the ruling of the Supreme Court suspending the February 10 deadline given by the Central Bank of Nigeria, CBN on the exchange of naira notes.
Recall that the apex court in its ruling on Wednesday, suspended the February 10 deadline on the old naira notes which expires today.
The Attorney General of the Federation, Abubakar Malami, who confirmed this in an interview with newsmen, said the government was hopeful that the ex parte ruling which expires on Wednesday, February 15 this year would be upturned.
He said the apex Bank, which is a necessary party to the issue, was not joined and that consequently, the Supreme Court lacked jurisdiction to decide on the matter in the first instance.
Malami, however, said that the decision of the government to obey the Supreme Court order on the naira deadline was based on the administration’s respect for the rule of law.