The Supreme Court has adjourned the case against the Central Bank of Nigeria (CBN) on the Naira Swap Policy to Wednesday, February 22 for hearing.
Ten state governments including Zamfara, Kaduna, Kano, Rivers, Lagos among others are challenging the Naira swap policy at the apex bank.
The Supreme Court had on February 8 temporarily stopped the move by the Central Bank of Nigeria (CBN) to phase out the old naira notes from February 10, 2023.
In a ruling on an exparte application, Justice John Okoro, leading a seven-member panel, ordered that the ban on the old naira notes be lifted temporarily.
Since that day, the circumstance around the use of old Naira notes took a different turn.
People had thought that the CBN would obey the court and wait until the case is concluded before the old Naira notes become illegal.
But that did not happen.
On Tuesday, the CBN said that the old notes had ceased to be legal tender in Nigeria since February 10.
That announcement now means that Nigerians with old Naira notes could lose whatever amount it is they have to the change of Naira notes policy.
However, the CBN has a window open to people who still have old Naira notes.
They will have to submit the old Naira notes to the CBN directly.
Here is the process you could use to change your old Naira notes.Â
