The Supreme Court has adjourned to March 3, 2023, judgment in a suit filed by 10 States, on the deadline for the legal tender status of old banknotes.
The states are asking the apex court to restrain the President Muhammadu Buhari administration from imposing a deadline on old Naira notes, and to allow old and new currencies to co-exist for a while.
The president has since outlawed old N500 and N1000 notes, while allowing old N200 notes to remain in the market until April 10.
Shortage of banknotes have stirred riots and protests across Nigeria.
President Buhari admitted during his nationwide broadcast that his currency redesign policy is targeted at corrupt politicians who had stockpiled old Naira notes; and had completed plans to buy voters ahead of this week’s election.
Details shortly…