Old naira notes to remain till December, 2023 – Supreme Court

The Supreme Court of Nigeria on Friday delivered a judgement ordering the retention of all old naira notes to remain as legal tender till December, 31, 2023.

The apex Court ordered that the old bank notes should be released into the economy with immediate effect for it to circulate side by side with the new bank notes.

The ruling followed some governors suing of the Federal government to allow the validity of old naira notes. The governors who are in the forefront of the suit are, Malam Nasir El-Rufai (Kaduna State), Yahaya Bello (Kogi State) and Bello Matawalle (Zamfara State).

The apex court knocked President Muhammadu Buhari and set aside his directives on the naira notes which it said were illegal and abuse of executive powers.