Suggestions




·

Breaking: Old Naira Notes Remain Legal Tender, Supreme Court Rules

The apex court declares new naira redesign and withdrawal of old notes invalid
March 3, 2023
by
Nigeria's Treasury Bills Surpass N6.6trn In 2023 Amid Economic Headwinds

The Supreme Court has ruled that the old N1,000, N500, and N200 notes remain legal tender until December 31.

The seven-man panel of justices of the apex court gave the ruling at its sitting on Friday in a suit brought by 17 states against the Federal Government regarding the implementation of the naira redesign policy of the Central  Bank of Nigeria (CBN).

Join our WhatsApp Channel

READ ALSO:Updated: Old Naira Notes Remain Legal, Buhari Acted As Dictator – Supreme Court Declares

According to one of the Justices, Justice Akomaye Agim, the directive on the withdrawal limit is an infringement of people’s rights.

“I am not aware of any law which empowers a bank to withhold a customer’s money and refused to give him/her.

The court also set aside the cash withdrawal limit directive given to commercial banks by the CBN.

Victor Ezeja

Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.

Related Posts

Cash In Circulation Up By N701.4 billion, Emefiele's CBN Loses Control Again
Previous Story

Updated: Old Naira Notes Remain Legal, Buhari Acted As Dictator – Supreme Court Declares

Deyemi
Next Story

Deyemi Okanlawon Writes An Open Letter To Thaddeus Attah

Featured Stories

Related Posts

Latest from Business

Black Market, Official Window FX Rates Gap Widens By N100

The gap between the black market and the official window widened to N100.88 kobo on Monday, February 16, from N49.58 kobo on Friday, February 13. In the black market on Monday, the foreign exchange (FX) rate for the United States dollar (USD) increased

BUA Group Signs Strategic Partnership with UAE Firms

BUA Group has signed a strategic Memorandum of Understanding (MoU) with UAE-based AD Ports Group and MAIR Group in Abu Dhabi, in a deal aimed at strengthening industrial development, trade, and logistics between West Africa, the Gulf, and Asia. The agreement follows
Cash In Circulation Up By N701.4 billion, Emefiele's CBN Loses Control Again
Previous Story

Updated: Old Naira Notes Remain Legal, Buhari Acted As Dictator – Supreme Court Declares

Deyemi
Next Story

Deyemi Okanlawon Writes An Open Letter To Thaddeus Attah

Don't Miss

How Premier League Clubs Will Prosecute Pre Season Friendlies 

Premier League clubs have been announcing their plans for the

Update: NBBF Invites 20 For AfroBasket Championship

The Nigeria Basketball Federation ( NBBF) has invited 20 players