By Mike Aladenika.
The Supreme Court has ruled that the old N200, N500, and N1,000 notes remain legal tender till December 31, 2023.
This is one of the rulings of the nation’s apex court on Friday, March 3, 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 until December 31.
The court decried the implementation of the naira policy of the Central Bank of Nigeria, while It also held that the old Naira notes should be used alongside the redesigned currencies.
The Supreme Court also 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.
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