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

Dangote Sugar, Jaiz Bank Shares Decline, Drag NGX Down By N101bn

Dangote Sugar, Jaiz Bank Shares Decline, Drag NGX Down By N101bn

Trading closed with a N101.89 billion decline in the market capitalisation of the Nigerian Exchange (NGX) on Wednesday, March 4. The NGX said the Nigerian stock market’s market capitalisation decreased to N126.09 trillion, from the N126.19 trillion recorded on Tuesday, March 3.Join
Ecobank Fined N3.2m, PZ Cussons Slammed With N4.8m Amid Clampdown

Ecobank Suffers N10.97bn Investment Loss

In 2025, Ecobank Transnational Incorporated managed to shield its bottom line from investment loss and decline in other operating income, thanks to a strong topline. According to the company’s consolidated unaudited statement of comprehensive income for the year ended December 31, 2025,
Naira Appreciates, Ends Week Positive Across Official, Black Markets

Dollar Appreciates In Black Market, Official Window

The foreign exchange (FX) rate for the United States dollar (USD) increased to N1,387.77 kobo per $1 on Tuesday, March 3, in the black market, surpassing the N1,382.52 kobo per $1 recorded on Monday, March 2. Also, the pound FX rate was
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

Port Harcourt Refinery Fails to Meet Production Deadline After 7th Postponement In 2024, NNPC Remains Silent

Port Harcourt Refinery Misses 7th Production Deadline, NNPC Remains Silent

The Port Harcourt Refinery in Rivers State has once again
Obaseki Appoints 2 Special Advisers

Obaseki Appoints 2 Special Advisers, Forwards List Of Eleven Commissioner-nominees To Edo Assembly

THE Edo State Governor, Mr. Godwin Obaseki, has appointed two