Old, New Naira Notes To Co-Exist Till Further Notice – Supreme Court
The Supreme Court has ruled that both old and new naira notes will remain legal tenders.
Osun Defender had reported that the Central Bank of Nigeria announced its intention to extend the validity of the old N200, N500, and N1,000 noted indefinitely.
The Apex bank declared its desire to extend the validity of old naira notes beyond any expiry date.
The bank said it is working with the relevant authorities to vacate the subsisting court ruling on the same subject.
The court while ruling on Wednesday morning, ordered that the old N200, N500, and N1000 notes continue to co-exist till further notice.
The apex court ruled that the old and new notes remain in use until the Federal Government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders.
The Supreme Court has ruled that both old and new naira notes will remain legal tenders.
Osun Defender had reported that the Central Bank of Nigeria announced its intention to extend the validity of the old N200, N500, and N1,000 noted indefinitely.
The Apex bank declared its desire to extend the validity of old naira notes beyond any expiry date.
The bank said it is working with the relevant authorities to vacate the subsisting court ruling on the same subject.
The court while ruling on Wednesday morning, ordered that the old N200, N500, and N1000 notes continue to co-exist till further notice.
The apex court ruled that the old and new notes remain in use until the Federal Government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders.
Kazeem Badmus is a graduate of Mass Communication with years of experience. A professional in journalism and media writing, Kazeem prioritses accuracy and factual reportage of issues. He is also a dexterous finder of the truth with conscious delivery of unbiased and development oriented stories.
