Naira Redesign: Supreme Court says Old Naira notes remain legal tender till Dec 31
The Supreme Court, on Friday, said Nigerians should continue to use the old N200, N500 and N1000 banknotes as legal tenders till December 31, 2023.
The apex court, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain valid legal tenders.
It held that the old Naira notes should be used alongside the redesigned currencies.
It faulted President Muhammadu Buhari for introducing the demonization policy, without due consultation with the Council of States, the Federal Executive Council, the Civil Society and other relevant stakeholders.
In the lead judgement that was delivered by Justice Emmanuel Agim, the apex court accused President Buhari of disobeying its interim order that halted the full implementation of the new monetary policy.
