Old N200, N500, and N1,000 notes must continue in circulation through December 31, 2023, according to a Supreme Court order.
The Federal Government’s policy to redesign the naira was declared invalid by the supreme court, which issued the order on Friday since it was an affront to the 1999 Constitution.
In the case made against the Federal Government regarding the naira redesign strategy, the Supreme Court rendered a decision.
In order to contest whether the establishment of the policy was legitimate or not, sixteen states of the Federation filed the lawsuit.
The suit initially instituted by Kaduna, Kogi, and Zamfara states has been slated as the first case on the cause list for a final verdict.
Justice John Inyang Okoro, who led a seven-person panel of Justices of the Court, had on February 22 fixed today for the court to make its decision known on the suit.
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