On Tuesday night, the Nigerian Presidency revealed that, in light of the Supreme Court’s ongoing case, neither the Federal Government nor the country’s central bank, the Central Bank of Nigeria (CBN), had taken any preventive action regarding the legitimacy of the currency.

Instead, according to a statement from the Presidency’s spokeswoman, Mallam Garba Shehu, the Federal Government’s stance on the currency swap would be made public following the outcome of the case that will be heard by the Supreme Court on Wednesday.

In a press release, it is stated: “Following a series of inquiries, we wish to say that it is not true that the Federal Government or the Central Bank of Nigeria (CBN) have taken a preemptive step on the legality of cash as a legal tender in view of the recent elections in Nigeria.

Upon the outcome of the lawsuit, which is scheduled to be decided tomorrow (Wednesday), the position of the government and the CBN will be made known.