Ten states have asked the Supreme Court to declare the President’s new directive—reintroducing the old ₦200 notes and declaring the old ₦500 and ₦1,000 notes unconstitutional—invalid. On Thursday, President Major General Muhammadu Buhari (retd.) directed the Central Bank of Nigeria to recirculate only the old ₦200 notes. This follows the apex court’s refusal to vacate its order that the old ₦200, ₦500, and ₦1,000 notes remain legal tender.
The plaintiffs, comprising Kaduna, Kogi, Zamfara, Ekiti, Ondo, Katsina, Ogun, Cross River, Lagos, and Sokoto states, argue that the President’s later directive creates an “embarrassing dilemma” about which order— the Supreme Court’s ruling or the President’s counter‑directive—should be obeyed. In their motion, the states seek an order setting aside the presidential broadcast of February 16, 2023, deeming it an unconstitutional overreach that usurps the Court’s judicial power and interferes with the pending suit. They note that an interim injunction, binding on all parties including the President (named as a nominal defendant), is already in force.
The substantive suit, filed on February 8, remains before the Court with an interim injunction confirming that the old ₦200, ₦500, and ₦1,000 notes continue to be legal tender pending a final determination. The Court reaffirmed this interim order on February 15, 2023. Nevertheless, the plaintiffs contend that, contrary to the Court’s order, the President and the Central Bank of Nigeria have repeatedly issued statements claiming the old notes are no longer legal tender, thereby misleading the public about the applicable status. They assert that on February 16, 2023, the President openly flouted the Court’s order by directing that all old naira notes except the ₦200 be invalid and accepted only by the Central Bank’s branches or designated points.
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