Today, March 3, 2023, the Supreme Court gives a final verdict on the issue of the old naira note.

It will be recalled that President Buhari declared in his speech that only the new two hundred naira note would remain legal tender while some state governors challenged the policy.

Today at the Supreme Court Justice Agim said: “The directive given by the President, through a press release by the CBN, is invalid, too.” In other countries, decisions to change currencies follow due process and are made in accordance with democratic dictates, not after a side talk with their central bank chiefs.

He insists that since no reasonable notice was given by the CBN under Section 20 of the CBN Act, The directive is invalid, and he hereby declares it so.I am not aware of any law that empowers a bank to withhold a customer’s money and refuse to give it to him or her. The withdrawal limit directive is an infringement on people’s rights ,Justice Agim concluded, and the Supreme Courtt declared the old  200,500,0 and1,000nairaa notes to continue to be legal tender untill December 2023