BREAKING: Supreme Court made old naira notes legal tender until December 31
The old naira notes must remain in circulation until December 31 this year, the Supreme Court ruled on Friday.
The Supreme Court of Nigeria ordered the Central Bank of Nigeria, or CBN, to allow the old and new naira notes to be used together until the end of the year.
On the grounds of illegalities and executive power abuse, President Muhammadu Buhari's orders regarding the redesign and circulation of the Nigerian naira were overturned.
President Buhari was criticized by the Supreme Court for disobeying its February 8 interim order, which stated that the old naira could be used.
According to Justice Emmanuel Akomaye Agim, the President's broadcast on February 16 in which he permitted only N200 notes alone exemplified disobedience to its utmost level.
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