Naira

By Ngozi Onyeakusi—Supreme Court of Nigeria has said that both the old and the new resigned Naira notes remain legal tender till further notice. The apex court, in a ruling by a seven-man panel of justices led by Justice John Okoro, said the banknotes should remain in circulation, pending when the Federal Government, after due consultation with relevant stakeholders, takes a decision on the matter. It made the order, after it heard an application that was moved on behalf of the federal government by the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN. It will be recalled that the court had on March 3, nullified the ban on use of the old N200, N500 and N1000 banknotes as valid legal tenders by the President Muhammadu Buhari-led administration.