The Supreme Court of Nigeria finalized the controversy surrounding the old naira notes on Friday 3rd March 2023. The Supreme Court ordered that the old 200, 500 and 1,000 naira notes should remain in circulation till December 31 this year.
The justice ordered the Central Bank of Nigeria to ensure that both the old naira notes and the new naira notes should circulate till the end of the year.
Justice Emmanuel Akomaye Agim said that President Muhammadu Buhari goes against the verdict of the court in his national broadcast of 16th February 2023 by only allowing 200 naira notes to be in circulation.
Hence, Buhari's broadcast was seen as disobedient to the interim order of the judiciary and abuse of executive powers.