CBN new naira note

The court also nullified the implementation of the cashless system as well as Naira re-design policy by the Nigerian government.

Without any official pronouncement from the CBN, Deposit Money Banks cannot act outside the last instruction by the apex bank.

The Supreme Court on Friday ruled that the old bank notes will remain as legal tenders while also declaring that the N20,000 withdrawal limit set by the apex bank was illegal. For the second time since the Supreme Court ruled that the old N200, N500 and N1,000 notes will remain legal tender until December 31, the Central Bank of Nigeria has refused to speak on the judgement.

Financial experts have had their say on the Supreme Court judgment which removed the Central Bank of Nigeria deadline on Nigerians' use of old naira notes.

We will be awaiting the CBN’s response to the Supreme Court decision on this subject." Banks are permanently closing their doors; this is not how it should be. "Commendationto the Supreme Court on its ruling on new naira notes, it is a needless disruption of economic activities. Summary of the judgment of the Supreme Court on Naira redesign policy, Inibehe Effiong educates Nigerians Also positive for small businesses. Experts have their say on the supreme court old naira notes ruling

Alhaji Sani Abdullahi Shinkafi, chieftain of the All Progressives Congress (APC) in Zamfara, has urged the Federal Government to respect the Supreme Court ...

Justice John Inyang Okoro, who led a seven-man panel of Justices of the Court, had on Feb. 31 as instructed by the Supreme Court. 31 as the court ordered. He advised the governors to return to court in the event that the President, the Attorney General of the Federation (AGF) and the CBN refused to abide by the Supreme Court order. Shinkafi said: “President Muhammadu Buhari must respect the Supreme Court’s verdict and allow both the new and old Naira notes to exist concurrently until Dec. Alhaji Sani Abdullahi Shinkafi, chieftain of the All Progressives Congress (APC) in Zamfara, has urged the Federal Government to respect the Supreme Court judgment and allow Nigerians to use the old Naira notes concurrently with the redesigned notes.

The Federal Government is yet to react to the judgment of the Supreme Court revalidating the old N200, N500, and N1000 notes until.

Umar Gwandu, the media aide to the Attorney General of the Federation (AGF), Abubakar Malami (SAN), to respond on behalf of his principal, he did not pick up his call. He did not respond to the text and WhatsApp messages sent to his phone until this report was filed. On its part, the Federal Government challenged the jurisdiction of the Apex Court on the grounds that the CBN was not joined as a party and that the dispute on the policy ought to be directed at the CBN so that the suit can be referred to the Federal High Court.

The Socio-Economic Rights and Accountability Project has called on President Muhammadu Buhari to publicly direct the Central Bank of Nigeria to effectively ...

Widely publishing the implementation measures would also improve accountability of state officials and public confidence in the rule of law and Nigeria's democracy," it added. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our requests. SaharaReporters earlier reported that the Supreme Court on Friday voided the CBN New Monetary Policy, and consequently ordered that the old Naira notes of N200, N500 and 1,000 will continue to be used as legal tender till December 31, 2023.