June 14, 2024

Supreme Court Stops FG from Banning Old Naira Notes as from Feb. 10

The Supreme Court of Nigeria on Wednesday has halted the move by the federal government to ban the use of the old naira notes from February 10, 2023

The apex court granted the ex parte motion filed by Kaduna, Kogi and Zamfara States to allow both old and new naira notes to be used simultaneously until the old one eventually phases out, a reliable source who heard the ruling said.

A five-member panel of the court, led by Justice John Okoro held that it was a matter of urgent national importance that the court intervenes and grant the order.

The supreme court order subsists until 15th February, 2023, when the motion on notice for interlocutory injunction will be heard and determined.

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