Supreme Court: Old Naira notes still valid until December 31.
The Central Bank of Nigeria’s (CBN) decision to prohibit the use of the old N200, N500, and N1000 banknotes as legal tender was overturned by the Supreme Court on Friday.
According to reports, the top court decided unanimously that the old banknotes shall continue to be accepted as legal tender until December 31.
It advocated for continuing to utilize old Naira notes alongside newly designed money.
Also, it criticized President Muhammadu Buhari for implementing the demonization program without consulting the Federal Executive Council, the Council of States, the Civil Society, and other important stakeholders.
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