BREAKING: Supreme Court Declares CBN’s Naira Policy Invalid

The Supreme Court on Friday ruled that the old N200, N500, and N1,000 notes remain legal tender till December 31, 2023.

It would be recalled that a Senior Advocate of Nigeria, Wahab Shittu has said that the Central Bank of Nigeria is not greater than the constitution binding the country.

Shittu said this in reaction to the ruling of the Supreme Court on Wednesday that temporarily halted the move by the Federal Government through the Central Bank of Nigeria to ban the use of the old naira notes from February 10, 2023.

A seven-member panel led by Justice John Okoro halted the federal government plan in a ruling in an exparte application brought by three northern states of Kaduna, Kogi, and Zamfara.
Details