Nigeria’s Supreme Court Adjourns Naira Redesign Case Till March 3

Supreme Court Adjourns Case on Naira Swap Till February 22 (News Central TV)

The Supreme Court has postponed the case regarding the redesign of the Nigerian currency until March 3.

The case was brought by state governments against the Federal Government in opposition to the implementation of the redesign.

The Central Bank of Nigeria had extended the deadline for swapping old N200, N500, and N1,000 notes from January 31 to February 10, but the Supreme Court ruled that the February 10 deadline should not proceed until the issue is resolved on February 22.

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However, President Muhammadu Buhari issued a directive for old N200 notes to be circulated alongside new N200, N500, and N1,000 banknotes for 60 days, with old N500 and N1,000 banknotes no longer considered legal tender in Nigeria.

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 This directive has received criticism from several governors, politicians, and senior advocates of Nigeria, who argue that the case is still before the Supreme Court and the President cannot override the court’s decision.

Additionally, Kaduna, Zamfara, and Kogi state governors have filed a new suit against the Attorney General of the Federation and the CBN Governor for contempt of court and non-compliance with the Supreme Court order on the old naira notes.

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