• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, October 29, 2025
No Result
View All Result
NewsNet Nigeria
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos
NewsNet Nigeria
No Result
View All Result
Home Economy

Old N200, N500, N1,000 notes remain valid till Dec 31 – Supreme Court orders

by NewsNet Nigeria
3 years ago
in Economy
Shoprite, Rainoil, Otres, others stop collection of old naira notes in Delta
Share on FacebookShare on TwitterShare on LinkedinShare on Whatsapp

The Supreme Court has ordered that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023.

The apex court on Friday also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution.

Justice Emmanuel Agim, who read the lead judgement, held that the preliminary objections by the defendants (the Attorney General of the Federation, Bayelsa and Edo states) are dismissed as the court has the jurisdiction to entertain the suit.

Citing Section 23(2)1 of the constitution, the court held that the dispute between the Federal Government and states must involve law or facts.

The apex court further held that President Muhammadu Buhari in his broadcast admitted that the policy is flawed with a lot of challenges.

The court said the policy has led to some people engaging in trade by barter in this modern age in a bid to survive. The court added that the President’s disobedience of the February 8 order, is a sign of dictatorship.

Sixteen states of the Federation instituted the suit to challenge the legality or otherwise of the introduction of the policy.

The suit initially instituted by Kaduna, Kogi and Zamfara states has been slated as the first case on the cause list for a final verdict.

Justice John Inyang Okoro who led a seven-man panel of Justices of the Court had on February 22 fixed today for the court to make its decision known on the suit.

The 16 states led by Kaduna, Kogi and Zamfara are praying the apex court to void and set aside the policy on the ground that it is inflicting hardships on innocent Nigerians

They accused the President of usurping the function of the CBN in the introduction and implementation of the policy and asked that the directive issued by Buhari be voided.

Governor Nasir El-Rufai of Kaduna State and his Kogi State counterpart, Yahaya Bello were in court to witness the judgement on Friday. The two governors were also in court at the last hearing. Also, Zamfara State Governor, Bello Matawalle was in court on Friday.

Source: CHANNELS TV

Previous Post

Atiku to challenge outcome of 2023 presidential election, says it was a rape of democracy

Next Post

Delta 2023: Why Omo-Agege Is The Right Choice For Governor

MORE NEWS

Ubara Family Petitions Delta CJ over Magistrate’s “Overreaching” Order in Burial Dispute
Economy

Delta Court Slams Illegal Revenue Collectors with 4-Year Jail Term

October 27, 2025
Anioma State: Idumuje-Unor Backs Obi Anyasi III, Condemns Nwaezeigwe’s ‘Malicious’ Publication
Economy

Anioma State: Idumuje-Unor Backs Obi Anyasi III, Condemns Nwaezeigwe’s ‘Malicious’ Publication

October 26, 2025
2ND ANNIVERSARY: NUJ faults Oborevwori on media engagement, public accountability
Economy

Extend Julius Berger Projects to Riverine Areas, Mulade Urges Oborevwori

October 23, 2025
NCDMB’s DRR Training Ends in Delta with Fire, Health Emergency Drills, Certificates, Starter Packs and Cash Awards
Economy

NCDMB’s DRR Training Ends in Delta with Fire, Health Emergency Drills, Certificates, Starter Packs and Cash Awards

October 22, 2025
Next Post
Omo-Agege warns banks, other financial institutions against lending money to Delta govt

Delta 2023: Why Omo-Agege Is The Right Choice For Governor

Leave Comment

RECENT STORIES

Odu Oma Club Warns Against Divisive Politics in Anioma State Campaign

Club Anio 50 Defends Ned Nwoko, Slams “Disingenuous” Critics, Says Struggle Predates Delta’s Formation

October 28, 2025
Lamido Fumes, Plans Court Action Over PDP Nomination Form

Lamido Fumes, Plans Court Action Over PDP Nomination Form

October 28, 2025
Ubara Family Petitions Delta CJ over Magistrate’s “Overreaching” Order in Burial Dispute

Delta Court Slams Illegal Revenue Collectors with 4-Year Jail Term

October 27, 2025
How Senator Ede Dafinone’s Free Medical Outreach Sparks Hope Across Delta Central

How Senator Ede Dafinone’s Free Medical Outreach Sparks Hope Across Delta Central

October 27, 2025
Unenurhie people in Ughelli North reject conduct of election, say process violates community constitution

Okpare Olomu Inaugurates Youth Leaders, Joel Ekoh Vows to Galvanise Youths for Progress

October 27, 2025

TRENDING STORIES

  • Herbalist Hides in Fridge as Police Storm Shrine, Recover Two Corpses in Delta

    Herbalist Hides in Fridge as Police Storm Shrine, Recover Two Corpses in Delta

    0 shares
    Share 0 Tweet 0
  • Illicit Arms Supplier to Bandits Falls in Delta Police Dragnet

    0 shares
    Share 0 Tweet 0
  • Trigger-Happy Cop Nabbed in Delta After Viral Shooting Video, CP Orders Probe

    0 shares
    Share 0 Tweet 0
  • Delta Court Slams Illegal Revenue Collectors with 4-Year Jail Term

    0 shares
    Share 0 Tweet 0
  • Agbor Okada Rider’s Killers Nabbed as Police Recover Decomposed Body

    0 shares
    Share 0 Tweet 0
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.

No Result
View All Result
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.