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BREAKING NEWS: Jubilation as Supreme Court Finally Gives Judgment in Naira Redesign Suit: Live Updates



The Supreme Court is expected to put to rest today, Friday, March 3, the controversies and confusion over the Central Bank of Nigeria (CBN)’s naira redesign policy.

Some state governors had dragged the federal government to the apex court as Nigerians suffer the effect of the policy.

Buhari/Emefiele/Naira notes/Cash Swap policy/Supreme Court
Supreme Court will give judgement on the CBN’s Naira redesign policy today, Friday, March 3. Photo credits: PIUS UTOMI EKPEI/AFP, Olukayode Jaiyeola/NurPhoto
Source: Getty Images

Today, this will hopefully be settled as the Supreme Court had fixed today to deliver judgment after hearing the arguments of both parties. Stay tuned as Legit.ng provides live updates of the proceedings at the apex court.

Supreme court nullifies naira redesign policy

The Supreme Court has invalidated the naira redesign policy introduced by the Central Bank of Nigeria (CBN).

The court made the declaration on Friday while delivering judgment in a suit instituted by three states of the federation.

A seven-member panel of the apex court held that the old N200, N500 and N1000 remain valid legal tender until December 31, 2023.

Another governor arrives Supreme Court

Zamfara State Governor, Bello Matawalle has also arrived the Supreme Court for the crucial verdict.

Governors El-Rufai, Yahaya Bello Arrive Supreme Court

At least two state governors, Nasir El-Rufai of Kaduna and Yahaya Bello of Kogi are present in the court.

Recall that the two governors were also in attendance at the last sitting of the apex court on the controversial naira redesign policy.

Naira redesign: Supreme Court shifts judgment to 10am

There is a new development. The Supreme Court has shifted the delivery of its judgment to 10am.

This was announced by an official of the court. Note that 9am usual sitting time of the court.

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