June 5, 2023

Old Naira Notes Remain Legal Tender – Supreme Court  

The Supreme Court on Wednesday ordered that Nigerians can continue to spend the old naira notes pending the determination of the suit file by some governors against the CBN’s Naira redesign policy.


The apex court, while adjourning the case to Wednesday, 22nd February, said the old order to suspend the ban of the now older 200, 500 and 1000 naira notes subsist.


But the Central Bank of Nigeria (CBN), has violated the first order made by the apex court as it insisted that its February 10 deadline for the swapping of old naira notes with new ones stood.


Also, other states- Niger, Kano, Ondo, Ekiti, Lagos applied to be joined in the suit against the CBN and the Federal Government on Wednesday.


Bayelsa and Edo States also applied to be joined as a respondent.

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