The Federal Government has taken the decision to obey the ruling of the Supreme Court, which suspendes the February 10 deadline given by the Central Bank of Nigeria, CBN, on the exchange of old naira notes with new notes.
Confirming the decision in an interview with Arise Television on Thursday evening, the Minister of jUstice and Attorney-General of the Federation, AGF, Abubakar Malami, SAN, said nevertheless, the Federal Government was hopeful that the ex-parte ruling, which expires on Wednesday, February 15, 2023, would be upturned.
Makami said that the Supreme Court lacks jurisdiction on the matter in the first instance, since the CBN, which is a necessary party to the matter was not joined.
The Justice Minister, however, said that the decision of the government to obey the Supreme Court order on the naira deadline was upon the administration’s inclination to the rule of law.
Meanwhile, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has said that it will sanction fuel stations that reject the use of Point of Sale, POS, machines or bank transfers at their outlets.
This was contained in a statement by the General Manager, Corporate Communications and Stakeholders Management, NMDPRA, Mr Kimchi Apollo, on Thursday in Abuja.
The statement frowned at the act by the retail outlets refusing bank transfers and the use of PoS to pay for fuel, a development occasioned by the recent cash crunch brought about by the new naira design.
It said, “It has come to the attention of the NMDPRA that some retail outlets are not accepting the use of PoS machines at their fueling stations due to the recent cash crunch brought about by the new naira design.
“The authority frowns at this recent behaviour which is causing untold hardship for Nigerians at a time when all hands should be on deck to assist the government in the transition to the new naira.”
