The supreme court has issued a ruling allowing old and new naira notes to continue co-existing as legal tender until further notice. This decision comes after the court had previously extended the deadline for phasing out old naira notes to December 31, 2023, in March 2023.
On November 21, the federal government submitted an application to the supreme court, requesting an extension to maintain the circulation of old naira notes. The court’s recent ruling implies that the co-existence of both old and new notes remains in effect.
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