“So, if you still have the old money, use it. The highest court of the land has said so. “Too bad for the Central Bank. He has no choice. There is no other directive that can override the judgement of the Supreme Court.”

The Supreme Court held that notice was not given the states as required under section 20(3) of the CBN Act, before the old Naira notes were withdrawn.

Supreme Court, on Friday, dismissed the preliminary objection the Federal Government filed to challenge its jurisdiction to hear the suit that 16 states filed to challenge the ban on use of old N200, N500 and N1000 banknotes as legal tenders in the country.

The Central Bank of Nigeria (CBN) has denied receiving presidential orders to reissue the old N200, N500 and N1000 naira notes.

The implementation of the Naira redesign and withdrawal of old banknotes by the Central Bank of Nigeria, CBN, has sucked in about N1.81 trillion from the Currency Outside Banks, CoB, while crashing Currency-in-Circulation to N1.4 trillion in January 2023.

SERAP sues Buhari over ‘unlawful ban on old N500, N1,000 notes’

By Emmanuel Aziken Many are still grappling to understand the undercurrents that led Governor Nasir El-Rufai of Kaduna State to take on his onetime mentor, President Muhammadu Buhari. The relationship between Buhari and El-Rufai had not too long ago  been projected by the graphics of the governor kneeling to greet the president during recent encounters. […]

Ahead of next Saturday’s Presidential and National Assembly election, the Senator Abdullahi Adamu-led National Working Committee NWC of the ruling All Progressives Congress APC has summoned state governors of the party to an emergency meeting in Abuja.

“No deadline can render them worthless, ever. The law is on your side. The Central Bank of Nigeria Act, 2007 and the Bills of Exchange Act,  both oblige the CBN to recognise your old notes and give you value in new notes whenever you bring them to the CBN, even in the next 100 years.”

I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration …

Breaking: Buhari orders CBN to allow old N200 to circulate till April 10

President Muhammadu Buhari has directed that the old naira notes, ranging from the N200, N500 to N1000 remain legal tender till April 10 2023.

President Muhammadu Buhari has ordered the extension of the validity of old 200 naira notes by 60 days. The President made the disclosure on Thursday while addressing Nigerians in a nationwide broadcast on the recent implementation of the redesigned naira policy which has led to the scarcity of the notes. His words:” To further ease […]

Indications emerged Wednesday that President Muhammadu Buhari may order for extension of the validity of old naira notes by 60 days.

THE Central Bank of Nigeria, CBN, weekend, challenged a suit by Social Rehabilitation Grace and Supportive Initiative, SRG, over redesigned naira notes, before a Federal High Court, sitting in Akure, Ondo State, contending that the move was to save Nigeria’s democracy by checking vote-buying, during the presidential election.