Supreme Court Declares Old Naira Notes Legal Tender Till Dec. 31

The previous naira notes shall continue to be used until December 31 of this year, the Supreme Court said on Friday.

The Supreme Court of Nigeria directed the Central Bank of Nigeria (CBN) to permit the old and new naira notes to circulate simultaneously until the end of the year.

Since they were illegal and abused, all orders given by President Muhammadu Buhari regarding the redesign and circulation of the naira were revoked and overturned.

President Buhari received criticism from the supreme court for breaching its temporary decision from February 8 allowing the old naira to be used in commerce.

The President demonstrated and elevated disobedience with his broadcast on February 16 in which he permitted just N200 notes alone, according to Judge Emmanuel Akomaye Agim.