The Supreme Court has adjourned the case instituted by the state governments against the Federal Government under President Muhammadu Buhari’s administration challenging the implementation of the naira redesign.
The apex court adjourned the case to March 3, 2023, for judgement.
However, President Muhammadu Buhari, in a national broadcast last Thursday, directed the apex bank to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes for 60 days — by April 10, 2023. He also said old N500 and N1,000 banknotes cease to be legal tender in Nigeria.
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There has been a flurry of reactions and stark criticisms against the President’s directive including from governors of his party, the All Progressives Congress (APC).