BREAKING: Supreme Court faults naira redesign policy implementation. Old notes to remain legal tender till December 31

Lagosians groan as redesigned naira remains elusive. POS Naira redesign confusion: More drama as Central Bank, UBA, First Bank issue conflicting messages on acceptance of old notes

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.

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