The CBN had on October 26, 2022, announced its plan to redesign the three banknotes. President Muhammadu Buhari subsequently unveiled the redesigned N200, N500, and N1,000 notes on November 23, 2022, while the apex bank fixed a January 31 deadline for the validity of the old notes.

The CBN also pegged its weekly cash withdrawal limits to N500,000 for individuals and N5m for corporate firms.

With cries by many Nigerians, the apex bank extended the deadline from January 31 to February 10, saying it got the approval of the President.

The Supreme Court, on Wednesday restrained the Federal Government and the Central Bank of Nigeria ( CBN), from implementing the February 10, expiration deadline of the old 200, 500 and 1000 naira notes.


Here are four things you need to know about the Wednesday Supreme Court ruling over the matter:

1. It is a temporary halt; a suspension, and not a complete stop.


2. The temporary order was given by Justice Okoro of the Supreme Court.
Governors of Kaduna…

See details here:

https://opzygist.com.ng/lifestyles/finances/4-things-to-know-about-supreme-court-judgement/

10th February should be 10th February