The decision of the Supreme Court of Nigeria at the resumed sitting on the Naira notes redesign suit on Wednesday, insisting that the February 8 order restraining the Federal Government and the Central Bank of Nigeria (CBN) from enforcing the February 10 deadline for the swap of the redesigned old N200, N500 and N1,000 notes with the new ones “still stands” brought immense relief to residents of Lagos State.
Justice John Okoro, leading the seven-man panel of the apex court had asserted that there was no need for a renewal of the restraining order of the court.
National Daily in earlier report on Wednesday morning disclosed the confusion in Lagos State as commercial bus operators and other transporters rejected the old Naira notes, leaving commuters in disarray. Several commuters left home Wednesday morning for offices and business places with old Naira notes for their transportation fares and other expenses of the day. Suddenly, bus drivers turned down payments in old notes, demanding that residents either pay in new notes or N100 notes. Many who could find their way to offices and business places were perturbed how to go back home at the end of the day.
Some residents, however, told National Daily that they had high expectations from the Supreme Court sitting on Wednesday, looking forward to a judgment that retains the old Naira notes as legal tenders. At that time, drivers and traders have commenced rejection of the old notes. The drivers responded to the rejection of the old notes in several parts of the state at petrol stations.
Meanwhile, minutes after the Supreme Court adjournment and reaffirmation of the restraint on the federal government and the CBN, people began to accept the old Naira notes across the state. The few public transport operators who continued accepting the old notes in the early hours of Wednesday and through the day made good business fortunes with high returns. Residents who went out in the morning with perturbation returned home in the evening without difficulties.