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BREAKING: Old naira notes remains legal tender till December 31 – Supreme Court

The Supreme Court on Friday ordered that the old naira notes must remain in circulation till December 31 this year.

The apex court ordered the Central Bank of Nigeria CBN to allow both the old naira notes and the new ones to circulate side by side till the end of the year.

All directives issued by President Muhammadu Buhari in respect of the naira re-designing and circulation were voided and set aside on grounds of illegalities and abuse of executive powers.

The apex court took a swipe at President Buhari for disobeying its interim order of February 8 to the effect that the old naira is allowed to be in circulation.

Justice Emmanuel Akomaye Agim held that the President exhibited and took the disobedience to the highest peak with his broadcast of February 16 in which he allowed only N200 notes alone.

 

 

Prevail Inegbenose

Prevail Inegbenose is the Chief Executive Officer (CEO), Spark Media & Entertainment Ventures, the publisher of Spark News Daily - Nigeria's most sought-after online news platform - Politics, Sport & Entertainment. Prevail Inegbenose hails from Irrua, Esan Central LGA of Edo State. He studied Mass Communication from the prestigious Auchi Polytechnic Auchi and graduated in 2007. Prevail Inegbenose is a veteran journalist with 15 years of active and practical journalism. He has authored so many write-ups, a lot of which had been published in the newspapers, magazines and social media. Hence Prevail Inegbenose is a Journalist, Writer, Researcher, Author, Communication Expert and Consultant, Social Media Influencer, Project Management Expert, Peace Ambassador and Advocate of Good Governance and Better Society. He's a Pastor, in fact the Lead Pastor, House of God Int'l - Rest Tabernacle, Abuja Nigeria.

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