Stella Dimoko Supreme Court Suspends CBN’s February 10th Deadline Of Old Naira To New Naira Swap


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Wednesday, February 08, 2023

Supreme Court Suspends CBN’s February 10th Deadline Of Old Naira To New Naira Swap

The Supreme Court of Nigeria has restrained the Federal Government from continuing with the full implementation of the demonetization policy.

  Kaduna, Kogi and Zamfara had filed an ex parte motion on February 3 2023, and prayed the apex court to halt the Central Bank of Nigeria’s naira redesign policy.

A 7-man panel of the Supreme Court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the FG, CBN, commercial banks etc, from implementing the February 10 deadline for the old 200, 500 and 1000 Naira notes to stop being a legal tender.

The court further held that the FG, CBN, and commercial banks must not continue with the deadline pending the determination of a notice on notice in respect of the issue on February 15.
By the ruling, the old Naira notes continue to be legal tenders in Nigeria.

from Daily post


  1. This is not a great news to me at all, CBN should end the circulation of the old notes so they can give way to the circulation of new notes. This court ruling is an extension of hardship to an average Nigerian.

  2. πŸ‘πŸ‘πŸ‘πŸ‘

  3. The queues for fuel and naira notes reminds me 2015, where elders warned against buhari, saying that his first stint as a military president brought hardship to the country, with tension, anger, long queues for bread etc etc.
    But ppl stubbornly voted for him, he showed them shege and they voted again in 2019... now they are weeping, bruised& blood, with so many of dem dead, at the result of 8years rule of the General and his family/circle.
    We have never had it thos bad, an election year were the ruling party does eyeservice is so much worse.

    Power to the people indeed.

    1. Now those who voted him into power are the o es crying and attacking innocent us πŸ₯Ή.

  4. If care's not taken, this thing will drag till the elections are over.

  5. Vote buying scales through. Anyway.. goodluck to Nigeria.

    1. Leave them, they dnt know. They thought those governors dis it for them, no they did it for themselves and their cronies.

  6. See how Nigerians gave themselves more suffering by letting those who have been robbing them blind continue.

    Hellloooo Nigerians, do you have an idea how much these so called government who claim to have your interest have stored up. Because they can’t have access to change their money, they use your outcry to tender at the court.

    Truly, some Nigerians love hardship. God I can’t wait to leave this life behind πŸ˜­πŸ™

  7. I don't know why I am not happy about this news. People have been suffering for the past weeks because bubu said he will use this to prevent vote buying and other rigging. As well as trace and catch "thiefing" politicians.
    Now all that in the drain and we suffered for nothing

  8. Not great new. Instant gratification is what is killing us in this country

  9. Not a good news
    We would have survived whichever way 🚢‍♂️🚢‍♂️

  10. Nothing great about the news. The governors that filed the application where have they been all these years when Nigerians are dying of hunger. Almost all our doctors and nurses have left. People are kidnapped and killed daily by terrorist. They have suddenly woken up. Let them open their volt and share the old naira notes in their custody to the masses and leave Buhari alone. Suddenly they don't like Buhari's policies
    I saw a life broadcast of a coalition of civil society this afternoon saying the supreme judgement is a kangaroo judgement that lack merits.
    If you have old notes, kindly spend it because this people are not to be trusted.

  11. Not a 'Great news' at all..The idea maybe great but, the motive here now has 'Pepper dem' written over it!! I don't think the implementation will ever take place, they just want to drag a group of people within dem to expose. Na DEM-DEM, after their mission is accomplished you will see there should have not been any rush what-so ever to get the new notes as CBN will make it available to everyone where you bring old currency they will accept it and pay you back with the new one (that's how it should be everywhere,, not only in banks there in Nigeria). I just pity innocent citizens suffering from this.

    Ms K.

  12. This is a good news ! Hmmmm

  13. God these people are just playing with our heads, selling of votes will sure happen. T baba has his game plan very well. This is not a goodnews.

  14. This is not great News,ls sad news

  15. It's no good news.
    They should take out all the old notes let's see if new ones won't surface.
    Besides election is fast approaching and these politicians that high jacked the new notes will bring them all out to give to their members and also buy vote as usual.
    If the new notes are the only legal tender i don't think people will keep hoarding them, or sell them the way they are currently doing.
    If that is the only legal tender available people who have them will bring them out cos they have to spend it. That way it starts circulating.

  16. That means the suffering continues. I thought this thing will soon be over. Very bad news

  17. Are you guys still doubting how corrupt the Supreme Court is?millions of dollars have exchanged hands for them to give this kind of ruling.The issue is not that we don’t want the new notes,the problem is that it’s not circulating.The market of buying is officially open for business


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