Old naira Notes Legal Tender Till December 31 – Supreme Court

Old naira Notes Legal Tender Till December 31 – Supreme Court

by Victor Ndubuisi
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The Supreme Court ruled on Friday that old naira notes must remain in circulation until December 31 of current year.

The Supreme Court ordered the Central Bank of Nigeria CBN to allow both old and new naira notes to circulate alongside each other until the end of the year.

All directions made by President Muhammadu Buhari regarding the redesign and circulation of the naira were void and thrown aside due to illegalities and abuse of executive power.

Naira Redesign: CBN Withdraws N2 Trillion And Prints Just N400 Billion – El-Rufai

The Supreme Court chastised President Buhari for failing to comply with its interim decision of February 8 allowing the old naira to circulate.

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Judge Emmanuel Akomaye Agim ruled that the President demonstrated and escalated the disobedience with his February 16 broadcast, in which he authorized only N200 bills.

 

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