The Nigerian Supreme Court has ruled that old banknotes should be indefinitely used in the country as legal tender.
A seven-member bench ruled on Wednesday that both old and new naira notes should be accepted for official trading beyond December 31, 2023.
In March, the court had reversed a ban on the use of old notes in the West African country, saying the notes should remain in circulation until the end of 2023.
The court stated that the government had failed to give the citizens adequate time to exchange the old notes.
Curbing 'financial fraud'
New naira notes were introduced in November 2022 by President Muhammadu Buhari's administration, citing a need to curb financial fraud.
The new notes are in the 200 ($0.25), 500 ($0.64) and 1,000 ($1.27) naira denominations.
➤Click here to follow our WhatsApp channel for more stories
