July 12, 2024
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Nigeria Government to Take Position on Naira Swap After Wednesday’s Court Case
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Nigeria Government to Take Position on Naira Swap After Wednesday’s Court Case

Nigeria’s Presidency on Tuesday evening disclosed that neither the Federal Government nor the nation’s apex bank, the Central Bank of Nigeria (CBN) has taken any pre-emptive move on the legality of the currency in view of the case pending before the Supreme Court.

Rather, the Presidency in a statement by its spokesperson, Mallam Garba Shehu, said Federal Government’s position on the currency swap will be made public after the determination of the suit coming up before the apex court on Wednesday.

According to the release: “Following series of enquiries, we wish to state that it is not true that the Federal Government or the Central Bank of Nigeria (CBN)  have taken a preemptive action on the legality of currency as a legal tender in view of the pendency of the case before the Supreme Court.

“The position of the government and the CBN will be made known upon the determination of the suit coming up tomorrow (Wednesday)”.

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