S’Court invalidates naira redesign policy, says old notes remain legal tender till Dec
The Supreme Court on Friday nullified the ban on use of the old N200, N500 and N1000 banknotes as legal tenders.
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.
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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