From Victor Osula Abuja
The Supreme Court, on Wednesday, extended the validity of the old N200, N500 and N1,000 redesigned banknotes indefinitely.
The apex court, in a ruling by a seven-man panel led by Justice Inyang Okoro, knocked down the December 31, 2023 date and said the banknotes should remain in circulation, pending when the Federal Government, after due consultation with relevant stakeholders, takes a decision on the matter.
The ruling came on the heels in a hearing in an application moved on behalf of the Federal Government by the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi SAN
The apex court had on March 3, 2023, fixed a December 31, 2023 deadline for the use of the old N200, N500, and N1000 banknotes.
