Supreme Court Of Nigeria Judgement Today Rules CBN Naira Redesign Invalid
A big and necessary development was made by the Supreme Court of Nigeria on the chaotic redesign of the naira notes. According to the reports, the Supreme Court of Nigeria ruled that the old currency of the country will remain legal tender for this year as well. That means the people of Nigeria have got much-needed time to maintain their accounts and they are not required to sleep outside banks to get cash. Supreme Court announced this indeed development because people were not given enough notice to the public. After this statement by Supreme Court, people have been curious to explore this story. Needless to say, on social media a lot of questions are prevailing among its users. In fact, this is the reason this story is trending everywhere. However, we have come up with this article to make you informed about this story. You are just required to stick with this page and must read down the page till the end. Kindly swipe down the page and fetch the details.
Supreme Court Of Nigeria
According to the Supreme Court of Nigeria, not enough notice was given to the people of Nigeria before the old Naira notes were withdrawn which caused chaos throughout the country and compelled people to sleep outside banks. As a result of it, people have been outraged and started demonstrating against the government. Many people were also not able to get cash to pay for food which led to widespread anger. Scroll down the page and read more details.
The new Naira notes were released last year in December after the demonetization of old Naira notes in October last year. Initially, the people of Nigeria were allowed to submit all their old Naira notes by the end of January month but due to chaotic scenes across the country, the deadline was extended. But now the Supreme Court has announced that old Naira notes can be handed in by the end of this year. Scroll down the page and read more details.
Emmanuel Agim, a Justice of the Supreme Court of Nigeria said the right and efficient process has not been chosen. He further added, “The directive given by President is invalid. Such a directive is not just handed down after a personal conversation with the governor of the Central Bank of Nigeria (CBN),” Stay tuned to this website for more details and updates.