News
Naira Redesign Policy: Supreme Court Returns 200, 500 And 1000 Naira Notes Back To Circulation Till December, 2023.
By Ebor Cletus Ralph Jr.
The supreme court has invalidated the naira redesign policy introduced by the Central Bank of Nigeria (CBN).
The declaration was made today, Friday, the 3rd of March 2023, by the Supreme Court, while delivering judgment in a suit instituted by three states of the federation.
A seven-member panel of the apex court held that the old N200, N500 and N1000 notes remain legal tender until December 31, 2023.
The court faulted the entire policy of the CBN, saying the timing and implementation were defective.
