Outdated Naira Notes Nonetheless Authorized Tender, Supreme Courtroom Insists

The Supreme Courtroom on Wednesday reiterated the validity of using outdated 200, 500 and 1000 naira notes.

The Supreme Courtroom maintained that the February 8 listening to which paused the implementation of the February 10 deadline ban on using outdated naira notes nonetheless subsists.

The clarification from the courtroom adopted a criticism by Abdulhakeem Mustapha (SAN), lawyer to the Kaduna, Kogi and Zamfara states respectively.

Recall {that a} seven-man panel of the apex courtroom final Wednesday in a unanimous ruling granted an interim injunction restraining the Federal Authorities from implementing the Central Financial institution of Nigeria’s February 10 deadline for the swapping of the outdated naira notes with the brand new ones.

The judgement adopted a movement ex-parte on behalf of three northern states Kaduna, Kogi and Zamfara, who on February third filed a go well with searching for to halt the implementation of the CBN’s coverage.

On Wednesday (immediately), the apex courtroom adjourned a listening to within the go well with banning using the outdated naira to Wednesday, twenty second February 2023.

That is coming after 9 joined the go well with initially filed by Kogi, Kaduna and Zamfara states.

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