The Supreme Court has nullified the naira redesign of the Central Bank of Nigeria.
It said it was done arbitrarily, noting that such a monetary policy should not be done as a ‘side talk’ between the Central Bank and the President.
The court also ruled that the old notes remained legal tender till December 31.
Reacting to the verdict, Governors Nasir el-Rufai, Yahaya Bello and Bello Matawalle respectively of Kaduna, Kogi and Zamfara expressed satisfaction with the judgement.
“It is a policy of the PDP. Emefiele was appointed by the PDP. He came up with the policy to help the PDP win and deceived the President,” El-Rufai said.
