Consumers and marketers in the country have applauded the judgement of the Supreme Court nullifying the ban on use of the old N200, N500 and N1000 banknotes as legal tenders.

Noteworthy, the apex court, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain valid legal tenders until December 31.

It held that the old Naira notes should be used alongside the redesigned currencies.

Some citizens who have been affected by the policy took to social media to express how the judgement if obeyed by the Central Bank of Nigeria (CBN) and the federal government will ease their buying and selling activities daily.

Abudullahi Laweri said “As it should be after we don suffer finish. Enough of this bank stress and wahala.”

@Zlyechman said”Old Naira Note is now valid….we are properly back imo.”

Abua@ewacham1 said “What has Emefiele and the @cenbank said? Do we obey the court or the CBN?”

I am TCP Whyte (M.ED) said “@SupremeCourtNg to the rescue.Let’s see what @MBuhari and @cenbank will do – obey or not obey.”

Okiki stated, “Till we hear from Emefiele.”

Consumers and marketers in the country have applauded the judgement of the Supreme Court nullifying the ban on use of the old N200, N500 and N1000 banknotes as legal tenders.

Noteworthy, the apex court, in a unanimous decision by a seven-member panel of Justices, held that the old banknotes should remain valid legal tenders 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.

Some citizens who have been affected by the policy took to social media to express how the judgement if obeyed by the Central Bank of Nigeria (CBN) and the federal government will ease their buying and selling activities daily.

Abudullahi Laweri on Twitter said “As it should be after we don suffer finish. Enough of this bank stress and wahala.”

@Zlyechman stated that the “Old Naira Note is now valid….we are properly back imo.”

Abua@ewacham1 pointed that “What has Emefiele and the @cenbank said? Do we obey the court or the CBN?”

I am TCP Whyte (M.ED) said “@SupremeCourtNg to the rescue.Let’s see what @MBuhari and @cenbank will do – obey or not obey.”

Okiki stated, “Till we hear from Emefiele.”

Also,  reacting to the apex bank judgement,
a Senior Advocate of Nigeria (SAN), Ebun-Olu Adegboruwa, advised President Muhammadu Buhari to abide by the judgement of the Supreme Court reversing the controversial naira redesign policy.

In his words, “As there is no room for further appeal against the judgment of the Supreme Court, I urge the President to immediately direct the Central Bank of Nigeria to comply fully with the judgment of the Supreme Court, as stated under section 287(1) of the Constitution and allow ALL the N200, N500 and N1000 old Naira notes to be circulating along with the Naira new notes till December 23, 2023.”