The Supreme Court of Nigeria has halted the move by the federal government to ban the use of the old 200, 500 and 1000 naira notes as legal tender.
The Supreme Court gave the order in a panel led by Justice John Okoro while delivering judgment in the exparte application filed before it by the Kaduna, Zamfara, and Kogi state governments against plans by the federal government to stop the use of the old naira notes from February 10th, 2023.
The court however held that the federal government, CBN and commercial banks must not continue with the deadline pending the determination , while adjourning to February 15, 2023, for a hearing of the main suit.