THE SUPREME COURT OF NIGERIA STOPS FEDERAL GOVERNMENT OF NIGERIA FROM BANNING THE OLD NAIRA NOTES.
This order was given on Wednesday, February 8th, restraining the FGN from executing the February 10th deadline of the old N1000, N500 and N200 notes ban. Nigerians will continue to use the above listed old denomination Naira notes as ordered by a Seven Man Panel of the Supreme court, led by Justice John Okoro who granted an in injunction restraining the FGN, the CBN and all Nigerian Commercial Banks from implementing this deadline.
Recall that on the 3rd of February 2023, three Northern State Governments ( Kogi, Kaduna, and Zamfara) were forced to drag the FGN, CBN, and other commercial of banks to court due to the hardship Nigerians are facing resulting from the cashless policy system being imposed by the FGN.
