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Old, new naira notes should co-exist till further notice -Supreme Court

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The Supreme Court, on Wednesday, ruled that the old Naira denominations of N200, N500 and N1,000 notes continue to co-exist with the new notes till further notice.

The court maintained that the old and new notes should remain as legal tender until the Federal Government puts a process in place for their replacement or redesign after due consultation with relevant stakeholders.

Recall that the Central Bank of Nigeria, on November 14, extended the validity of the old N200, N500 and N1,000 notes indefinitely.

The PUNCH reports that the CBN introduced the redesigned  N200, N500 and N1.000 denominations in October 2022 and certain deadlines were set for the old design of these denominations to cease as legal tenders.

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