Old, new naira notes remain legal indefinitely, rules Supreme Court

By Deborah Hassan


The Supreme Court has ruled that old and new naira notes will remain  legal tender indefinitely.


This ruling will address widespread apprehension over the status of the old naira notes which were earlier due to be phased out at the end of December.


In March 2023, the apex court extended the deadline imposed by former Central Bank of Nigeria Governor, Godwin Emefiele, on eligibility of old naira notes to December 31, 2023.


Following widespread fears over the approaching deadline, the Federal Government again approached the court o November 21, with an application seeking an extension for old naira notes to remain in circulation.

Spread the love

Leave a Reply