Old N200, N500, N1000 remains legal tender till Dec 31 – Supreme court rules

The supreme court has ruled that old N200, N500 and N1000 notes remains a legal tender in the country.

The Supreme court made the declaration on Friday while delivering judgment in a suit instituted by three states of the federation.

The CBN had announced January 31, 2023 as deadline for the validity of old notes as part of the naira redesign policy. It however extended the deadline to February 10.

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But a seven-member panel of the apex court on Friday held that the old notes remain valid legal tender until 31 December 2023.

Details later……