The earlier date of December 31, 2023, has been extended by the Apex Court to allow the old N200, N500, and N1,000 notes to coexist alongside the new currencies. The court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders.
The Supreme Court seven-man panel led by Justice Inyang Okoro, in a unanimous ruling, ordered that the old notes remain legal tender.
It can also be recalled that on 9th November 2023, the apex bank stated that banknotes should remain in circulation and will be accepted as legal tender.
