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Naira Redesign: Supreme Court Validates Use Of Old N200, N500, N1,000 Notes
The Supreme Court has ordered that the N200, N500 and N1,000 old currency remain a legal tender in Nigeria.
The Supreme Court has ordered that the N200, N500 and N1,000 old currency remain a legal tender in Nigeria.
VerseNews reports that the order comes as the Court has adjourned the hearing of the case brought against the Central Bank of Nigeria (CBN) on the naira redesign policy.
The complaint was brought up by Abdulhakeem Mustapha (SAN) the lawyer representing the three states (Zamfara, Kogi and Kaduna States) that instituted the initial case.
Mustapha told the Court that the apex Bank and its agencies have allegedly directed the rejection of the old notes which is contrary to order by the Court on February 8.
ALSO: CBN Declares Old Naira Notes Illegal Tender, Gives New Directives To Nigerians
This Online Newspaper understands that the Court had on February 8 stopped the implementation of the 10 February deadline of the old notes.
At the end of the hearing, Justice Okoro ordered that the old N200, N500 and N1,000 notes remains a valid legal tender in the country. The apex court therefore postponed the hearing until Wednesday February 22.
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