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Old, New Naira Notes To Co-Exist Till Further Notice, Supreme Court Rules

The Supreme Court has ordered that the old N200, N500, N1000 notes should continue to co-exist with the new notes till further notice.


The apex court ruled that both old and new notes should continue to remain legal tender until the Federal Government put a process in place for its replacement or redesign after due consultation with relevant stakeholders.


Mid-November, the Central Bank of Nigeria had said the old N200, N500, and N1,000 notes would remain legal tender indefinitely.


The Federal Government subsequently urged the Supreme Court to grant an extension of time for old naira notes to remain in circulation as legal tender.


In its ruling today, the apex court ruled that old and new naira notes should co-exist till further notice.

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