S/Court directs FG to recirculate old redesigned Naira notes
Economy Law / Crime

S/Court directs FG to recirculate old redesigned Naira notes

The Supreme Court on Friday ordered the Federal Government to allow the old N1000, N500 and N200 notes to recirculate until Dec. 31, this year.

The Apex court directed that the old notes should be allowed to circulate alongside the new notes till then.

Some state governments had filed a suit against the Federal Government over the naira redesign policy.

The apex court held that the federal government’s decision on the circulation of the old currencies was a gross violation of human rights of Nigerians.

It said it had jurisdiction to adjudicate on the matter as it was of national interest.

The court held that the act of the president and government of Nigeria is an act of the federation.

It also held that the dispute is between the states and the government of the Federation and within the original jurisdiction of the court.



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