This decision is following massive bouts of civil unrest across numerous states within Nigeria. The supreme court’s decision was also spurred by a scarcity of the redesigned notes, and the further complications it could result in.
Plans to outlaw the use of the old naira notes nationwide on the 10th of February 2023 have been temporarily put on hold by Nigeria’s Supreme Court.
The governor of the Central Bank noted that this was the bank’s directive with the endorsement of the Nigerian Federal Government, spearheaded by the country’s president Muhammadu Buhari.
