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Old, New Naira Notes Remain Legal Tender Till Further Notice - Supreme Court

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The Supreme Court has ordered that the old N200, N500 and N1, 000 notes continue to be used as a legal tender in the country till further notice.

In its judgement delivered on Wednesday, the Apex Court ruled that both old and new notes should continue to remain legal tender until the Federal Government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders.

Recall that the Federal Government had through the Minister of Justice Lateef Fagbemi approached the Supreme Court to seek the extension of the validity of the notes.

They were initially scheduled to be faced out on December, 31st, 2023.


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