BREAKING: Old notes remain legal tender till Dec 31, Surpreme Court

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The Supreme Court has ordered that the old N100, N200 and N500 notes should remain legal tender until December 31, 2023.

The court, in a judgment on the suit filed against Federal Governments naira swap poly, held that the old naira notes should co-exist with the new notes.

It faulted the directive issued by President Buhari to the CBN governor to limit access to cash and held that it was a violation of the right of the owners of such funds to their property

It proceeded to set aside the cash limit directive given to banks by the CBN.

The court’s seven-member panel, expressed displeasure that President Muhammadu Buhari failed to obey its February 8 order for parties to allow the old notes to co-exist with the new ones.

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