Federal Government and Supreme Court to allow the old Naira notes to be used as legal tender until 31st December, 2023
Supreme Court and Federal Government on Friday extended the validity of old naira notes to 31st December, 2023
Kogi, Kaduna, and Zamfara state governments sued the Federal Government at the Supreme Court as more than 10 states later joined the suit against Federal Government citing the policy as flawless
with a lot of challenges.
Citing Section
23(2)1 of the constitution, the court held that the dispute between the Federal Government and states must involve law or facts.
In view of the above, Supreme Court judgement passed on Friday 3rd March, 2023 extended the validity of 200, 500 and 1000 old naira notes till 31st December, 2023 and to allow the old 200 naira notes and redesigned 200, 500 and 1000 naira notes to be used as a legal tender.
