Overall meaning : Do not obey the unbelievers, Muhammad. They would like you to compromise with them in matters of faith and approve their falsehood, so that they will also compromise with you.
Nor obey every contemptible, vain habitual oath-swearer, backbiter and slanderer who goes about with malicious gossip to sow the seeds of discord between people, withholder of good who is niggardly with his wealth towards good causes, transgressor who has stepped over the limits of right and justice, excessive sinner, rude and harsh and, on top of all that, he is attached to a group of people and he is of unknown parentage. Just because he has been blessed with enormous wealth and numerous children, when the verses of the Qur’an are recited to him, he says, ‘These are fables of the ancients!’
We will leave a distinguishing mark on his nose by which he will be known among people!