Supreme Court: Old naira notes are valid money until December 31
The previous naira notes must continue to be used until December 31 of thisyear, the Supreme Court said on Friday.
The Supreme Court of Nigeria directed the Central Bank of Nigeria (CBN) to permit the old and new naira notes to circulate simultaneously until the end of the year.
Because they were illegal and abused, all orders given by President Muhammadu Buhari regarding the redesign and circulation of the naira were revoked and overturned.
President Buhari received criticism from the supreme court for breaching its temporary order from February 8 allowing the old naira to be used in commerce.
The President demonstrated and elevated disobedience with his broadcast on February 16 in which he permitted just N200 notes alone, according to Justice Emmanuel Akomaye Agim.