At last the Supreme Court of Nigeria has extended the validity of the N200, N500, and N1,000 notes till 31 December.
A seven-member panel of the court led by John Okoro today unanimously directed that the CBN must continue to receive the old notes from Nigerians. The Lead judgement was read by Justice Emmanuel Agim.
The court held that the directive of President Muhammadu Buhari for the redesign of the new notes and withdrawal of the old notes without due consultation is invalid.
Agim, a member of the panel, who read the lead judgement, also condemned the President’s disobedience of the court’s 8 February order that the old N200, N500, and N1,000 notes should continue to circulate alongside the new ones.