Supreme Court extends validity of old naira notes by 10 months
The Supreme Court has extended the validity of the N200, N500, and N1,000 notes for next ten months which is to last till 31 December, 2023.
Penpushing reports that on Friday Justice John Okoro who led a seven-member panel of the court ll unanimously directed that the Central Bank of Nigeria (CBN) must continue to receive the old notes from Nigerians
The court held that the directive of President Muhammadu Buhari for the redesign of the new notes and withdrawal of the old notes without due consultation is invalid.
Penpushing further reports that, a member of the panel, Emmanuel Agim who read the lead judgement, also condemned the President’s disobedience of the court’s 8 February order that the old N200, N500, and N1,000 notes should continue to circulate alongside the new ones.
The panel pointed out that the president’s broadcast of 16 February that only N200 notes should remain legal tender made Nigeria’s democracy look like a mere pretension while democracy is replaced with autocracy.
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