The Supreme Court has nullified the ban on the use of the old N200, N500, and N1000 banknotes as legal tender.
The apex court on Friday, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain valid legal tender until December 31.
It held that the old Naira notes should be used alongside the redesigned currencies.
It faulted President Muhammadu Buhari for introducing the demonization policy without due consultation with the Council of States, the Federal Executive Council, the Civil Society, and other relevant stakeholders.
In the lead judgment that was delivered by Justice Emmanuel Agim, the apex court accused President Buhari of disobeying its interim order that halted the full implementation of the new monetary policy.
