The Supreme Court has ruled that Nigerians should continue using old N200, N500 and N1000 banknotes as legal tender.
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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