The Supreme Court of Nigeria has ruled that the old 200, 500 and 1,000 naira notes remain in circulation until Dec. 31, 2023, effectively nullifying the naira redesign previously announced by Nigerian President Muhammadu Buhari. The introduction of redesign sought to phase out the use of the old naira notes.
A seven-member panel of the court, led by John Okoro, said in a unanimous judgment that President Buhari issued the directive without consultation.