The Supreme Court has ruled that the old naira notes are now legal tender in Nigeria. The hearing in the case brought against the Central Bank of Nigeria (CBN) on the naira redesign policy has been adjourned.
The use of old 200, 500, and 1000 naira notes is still legal in Nigeria, according to the Supreme Court.
The Supreme Court issued the clarification in response to a complaint filed by Abdulhakeem Mustapha (SAN), a lawyer for the three states that brought the initial case.
According to Mustapha, the apex government and its agencies allegedly directed the rejection of the old notes, thereby failing to comply with the court order issued on February 8.
In his response, Justice Okoro requested that Mustapha file a proper application and present his complaints.
According to Okoro, there was no need for the court’s order to be renewed because the order issued on February 8 was made pending the determination of the plaintiff’s motion for injunctions.