Highlights of Supreme Court judgement on old Naira notes

The Derendants ought not to be heard when it has refused to obey the orders of this Honourable Court.

– The disobedience of the orders of the Court is a sign of the failure of rule of law. This suit has merits.

Reliefs granted:

1. The demonetisation policy is inconsistent with the CBN Act .

2. A declaration that the President cannot make a unilateral policy without carrying the Plaintiffs along.

3. In issuing the policy, the president is under an obligation to carry the national council of states along.

4. The policy has impeded the functions of state governments .

5. The directive of the president is illegal

6. Old version of the naira notes shall continue to be legal tender with the new naira notes until 23rd December 2023.

About unclemtech

Check Also

Top Ten African Currencies Compared To US Dollar

Africa is the world’s second-largest and second-most populous continent, known for its diverse cultures, landscapes, …

Leave a Reply

Your email address will not be published. Required fields are marked *