Kaduna, Kogi and Zamfara states have finalized arrangements to initiate contempt proceedings against the Attorney‑General of the Federation, Abubakar Malami, SAN, and the Central Bank Governor, Godwin Emefiele. This move comes despite a Monday‑night directive from the Central Bank of Nigeria (CBN) ordering commercial banks to accept and dispense the old naira notes. Abdulhakeem Mustapha, SAN, the lead counsel for the three states, told The on Thursday that the CBN’s press statement was merely a camouflage intended to give the impression of compliance.
The Supreme Court, in its March 3 judgment, extended the legal‑tender status of the old N200, N500 and N1,000 notes until December 31. Justice Emmanuel Agim ruled that President Major General Muhammadu Buhari (retd.) had breached the Constitution by issuing directives for the redesign of the naira and condemned the President’s February 16 broadcast, which declared only the N200 note should remain legal tender, as a flagrant violation of the court’s restraining order. The court ordered that the old notes remain legal tender until the end of the year. Nevertheless, the Attorney‑General and the CBN governor failed to comply, even as Nigerians pressured them to do so. Banks also refused to accept or dispense the old notes, citing a lack of CBN directives on the judgment.
To enforce the judgment, the plaintiffs served the enrolled order and a Certified True Copy of the Supreme Court decision on the Attorney‑General the previous Friday. After the respondents’ continued non‑compliance, the plaintiffs warned they would file contempt charges unless the apex court order was obeyed. On Monday night, the CBN issued a statement—signed by acting Director of Corporate Communications Isa AbdulMumin—directing banks to receive and disburse the old notes in line with the Supreme Court judgment. The statement emphasized “the established tradition of obedience to court orders” and instructed Deposit Money Banks to treat the old N200, N500 and N1,000 notes as legal tender alongside the redesigned notes until December 31, 2023.
Mustapha dismissed the CBN’s statement as a gimmick, insisting that the Supreme Court order had not been complied with and that the officials were in contempt of court. He said his clients had instructed him to reactivate the already‑initiated contempt proceedings against the Attorney‑General and the CBN governor. “The press release is just a camouflage to give an impression of compliance. There is nothing like that,” he told The. “The decision of the Supreme Court has not been complied with. They are in contempt of court, and we will reactivate the proceedings. There is a legal process around it, and over time you will see it.” He added that the CBN was “playing pranks” and acting as if it were above the law, while the Constitution requires all organs to enforce Supreme Court decisions.
The Attorney‑General could not be reached for comment, nor could the CBN spokesman. Meanwhile, Deposit Money Banks have begun to halt the disbursement of both old and new notes as their vaults run low on cash, just five days after the CBN declared the old notes legal tender. Our correspondent found that ATMs at the Redemption Camp of the Redeemed Christian Church of God on the Lagos‑Ibadan Expressway, as well as those at Guaranty Trust Bank, Union Bank Plc, FCMB and PremiumTrust Bank, were not dispensing cash. PremiumTrust Bank dispensed cash for only five minutes before displaying the error “temporarily unable to dispense cash.” A customer identified as Kenny told The, “I have been to other ATMs today and none of them is dispensing. I am tired.”
An employee of A.G. Mortgage Bank’s Ikeja branch reported that the vault was empty, prompting the bank to advise customers to conduct transactions online. In contrast, a large crowd gathered at GTBank’s Gate, Jakande Estate branch in Oke‑Afa, Ejigbo, where the ATM was still dispensing old notes—customers could withdraw N10,000, while non‑customers were limited to N5,000. At noon, only one of four ATMs was operational, and customers had to queue for over‑the‑counter service. Eco Bank in Oke‑Afa also dispensed cash via its ATM, with a maximum withdrawal of N5,000. Several banks on Lagos Island—including Access Bank (Marina), Zenith Bank (Marina 2), Wema Bank (Broad Street), Union Bank (Tinubu Square) and Fidelity Bank (Oniru)—were similarly disbursing cash through ATMs.
In the Federal Capital Territory, Abuja, customers expressed relief as the circulation of old notes improved on Thursday. Our correspondent observed that Stanbic IBTC, GTBank and Zenith Bank along the airport road and in the Central Business District were dispensing cash through ATMs. A Zenith Bank branch in the central area paid out N3,000 to customers, down from N5,000 earlier in the week. In Akure, Ondo State, a First Bank official—who spoke on condition of anonymity—said the branch had run out of both old and new notes, disbursing cash only to the aged and disabled. “We did not pay any cash to customers; we only selected a few people with disabilities and very aged people with peculiar issues,” he explained. “We were able to disburse the old naira notes to about 20 people with special cases as directed by the Head of Branch Services. We will be paying N5,000 to each customer tomorrow.”
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