Old Naira Notes Still Legal Tender, Supreme Court Insists

The Supreme Court on Wednesday reiterated the validity of the use of old 200, 500 and 1000 naira notes.

The Supreme Court maintained that the February 8 hearing which paused the implementation of the February 10 deadline ban on the use of old naira notes still subsists.

READ ALSO: Violation Of Supreme Court Order On Old Naira Notes Is ‘Mere Rumour’ – Buhari Govt

The clarification from the court followed a complaint by Abdulhakeem Mustapha (SAN), lawyer to the Kaduna, Kogi and Zamfara states respectively.

Recall that a seven-man panel of the apex court last Wednesday in a unanimous ruling granted an interim injunction restraining the Federal Government from implementing the Central Bank of Nigeria’s February 10 deadline for the swapping of the old naira notes with the new ones.

The judgement followed a motion ex-parte on behalf of three northern states Kaduna, Kogi and Zamfara, who on February 3rd filed a suit seeking to halt the implementation of the CBN’s policy.

On Wednesday (today), the apex court adjourned a hearing in the suit banning the use of the old naira to Wednesday, 22nd February 2023.

This is coming after nine joined the suit initially filed by Kogi, Kaduna and Zamfara states.

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