The Supreme Court of Nigeria has served its order on its ruling on the use of the old Naira to the Attorney General of the Federation and Minister of Justice, Abubakar Malami, BusinessDay has reported.
ASHENEWS reports that the service of the order is a respite to Nigerians, especially if the Central Bank of Nigeria (CBN), decides to comply with the ruling on the advise of the AGF.
The BusinessDay confirms sighting the documents, including the proof of service of the orders on Malami.
According to the document, paragraphs 9 and 10 on the final page, stated that the old version of N200, N500 and N1,000 naira notes shall continue to be legal tender alongside with the new or redesigned version until December, 31, 2023, and that the reception of old N200, N500 and N1,000 naira notes and the swapping of same with new naira notes shall continue till December, 31, 2023.
The paragraphs particularly leave no more excuses to the President, AG Federation and Governor CBN for not complying with the orders, an analyst said.
According to a source, the documents were served on Friday.
“I expect the CBN to issue Guidelines to banks stating that the N500 and N1,000 notes will be released and telling them to put them back into circulation. Not later than Monday. It’s straightforward. Let’s see what they do,” the source said.
