The Supreme court has deliver judgement in the suit by 16 states challenging the federal government’s naira redesign and swap policy.
A seven-member panel of justices presided by Justice Inyang Okoro, said the old Naira Notes, N200, N500, N1000 to remain in circulation till December, 31st 2023.
The 16 states, whose suits were consolidated as co-plaintiffs alongside Kaduna, Kogi and Zamfara are arguing that the old naira notes of N200, N500, and N1000 must remain legal tenders pending the determination of the substantive suit.
Other states in the league are Katsina, Lagos, Ondo, Ogun, Ekiti, Cross River, Sokoto, Jigawa, Rivers, Kano, Niger, Nasarawa, and Abia states.
Bayelsa and Edo states filed as co-defendants in support of the federal government’s monetary policy and objection against the jurisdiction of the apex court to hear the suits.