Old Naira Notes: Supreme Court Stops Federal Government from Enforcing Feb 10 Deadline
On Wednesday, a seven-member panel of the Supreme court made a unanimous decision to halt the full implementation of the demonetization policy of the Central Bank of Nigeria, CBN
Interpreted as the old notes will continue to be legal tender until the brewing political and economic issues surrounding the naira notes are resolved.
The apex court, however, restrained the Federal Government from enforcing the February 10 deadline for the use of N200, N500, and N1000 old Naira notes.
The ruling followed a suit that was filed by three Northern States; Kaduna, Kogi and Zamfara.
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