Breaking: Old Naira notes remain legal tender till Dec 31 – Supreme Court

March 3, 2023 ABINSELOADEDNG News 0

ABUJA—The Supreme Court, on Friday, nullified the ban on use of the old N200, N500 and N1000 banknotes as legal tenders.

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.

 

It held that the old Naira notes should be used alongside the redesigned currencies.

It 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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About ABINSELOADEDNG 817 Articles
Francis Isaac Akuki popularly known as Smilezee is an entrepreneur, a blogger/graphic designer, and actively involved in fintech. He hold a National Diploma Certificate From Federal Polytechnic Idah Kogi State and currently a student of Public Administration at Taraba State University, Jalingo. He also hold a diploma certificate in Computer Operating From Fatz Link Computer Institute Makurdi, BENUE State. Smilezee is passionate about technology and endeavors to promote it within his community and beyond. He’s the creative force behind the entertainment website www.Abinseloaded.com. Moreover, he’s widely acknowledged as the CEO of Smile Printing Center ABINSI, consistently striving to inspire others toward economic growth and development in his hometown of ABINSI.

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