The Nigerian leader, in a national broadcast Thursday morning, admitted the 'difficulties' the new currency policy is causing Nigerians.
The Nigerian leader, in a national broadcast Thursday morning, admitted the ‘difficulties’ the new currency policy is causing Nigerians, but only approved the continued use of N200 notes as a legal tender across Nigeria.
“In line with Section 20 of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.” The Supreme Court had last week given an interim order for the continued use of all the old notes until it finally rules on the suit filed by some state governments.
In its sitting on Wednesday, the Supreme Court did not reverse that order, hence its validity remains. But the court adjourned the suit to 22 February.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING: Supreme Court Adjourns Naira Redesign Suit Against Buhari Government To February 22 | Sahara ReportersThe Supreme Court of Nigeria has adjourned the case filed by 10 state governments on the naira swap policy of the Central Bank of Nigeria (CBN) till Wednesday, February 22 for hearing. The apex court, which heard the case on Wednesday, was filled to capacity with a retinue of Senior Advocates of Nigeria, other lawyers and the governors of Kaduna and Kogi states, Nasir El-Rufai and Yahaya Bello, respectively.
Read more »
President Buhari May Extend Old Naira Notes Validity For 60 Days | Sahara ReportersPresident Muhammadu Buhari is reportedly considering extending the validity of the old Naira notes till April 10, 2023 to avoid disobeying the interim order of the Supreme Court. The Supreme Court on Wednesday, February 8 in a ruling on a suit filed by Kaduna, Kogi and Zamfara state governments issued an interim order that the old N1,000, N500 and N200 notes remain valid until it delivers judgment in the case. However, the Central Bank of Nigeria (CBN) had insisted that the February 10 deadline would not be changed.
Read more »
BREAKING: Buhari Extends Deadline Of Old N200 Notes As Legal Tender Till April 10 | Sahara ReportersPresident Muhammadu Buhari has approved the continued use of old N200 notes as legal tender till April 10, extending the deadline for the note by 60 days. That means the deadline for the old N500 and N1,000 notes remains February 10, 2023, despite the Supreme Court ruling temporarily suspending the deadline. The old N200 notes will be used alongside the new N500 and N1,000 notes and other notes that were not changed.
Read more »
BREAKING: Buhari Extends Deadline Of Old N200 Notes As Legal Tender Till April 10 | Sahara ReportersPresident Muhammadu Buhari has approved the continued use of old N200 notes as legal tender till April 10, extending the deadline for the note by 60 days. That means the deadline for the old N500 and N1,000 notes remains February 10, 2023, despite the Supreme Court ruling temporarily suspending the deadline. The old N200 notes will be used alongside the new N500 and N1,000 notes and other notes that were not changed.
Read more »
Courts In Lagos Disobey Supreme Court Ruling, Reject Old Naira Notes For Processing Fees | Sahara ReportersThere was drama on Monday at the High Courts in Lagos State as lawyers and litigants could not file their court processes using the old naira notes for payment because the court officials rejected the notes, saying the banks no longer accept them as legal tender. The development adds another wrinkle to the country's lingering naira crisis.
Read more »
Old naira notes no longer legal tender - CBN defies Supreme CourtIn defiance of the Supreme Court order, the Central Bank of Nigeria, CBN, declared that the old naira notes of N200, N500 and N1000 have ceased being
Read more »