Supreme Court has ruled that both old and new naira notes will remain legal tenders.
Recall hat the Central Bank of Nigeria announced its intention to extend the validity of the old N200, N500, and N1,000 noted indefinitely.
The Apex bank declared its desire to extend the validity of old naira notes beyond any expiry date.
The bank said it is working with the relevant authorities to vacate the subsisting court ruling on the same subject.
The court while ruling on Wednesday morning, ordered that the old N200, N500, and N1000 notes continue to co-exist till further notice.
The apex court ruled that the old and new notes remain in use until the Federal Government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders.
