Reactions As Supreme Court Orders Old N200, N500, ₦1,000 Notes To Remain In Circulation Till Dec 31

Nigerians have reacted to the ruling of the Supreme Court that ruled that old N200, N500, and ₦1,000 notes remain in circulation till December 31, 2023.

Naija News earlier reported that the apex court also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution.

Justice Emmanuel Agim, who read the lead judgement on Friday, held that the preliminary objections by the defendants (the Attorney General of the Federation, Bayelsa, and Edo states) are dismissed as the court has the jurisdiction to entertain the suit.

Citing Section 23(2)1 of the constitution, the court held that the dispute between the Federal Government and states must involve law or facts.

The apex court further held that President Muhammadu Buhari in his broadcast admitted that the policy is flawed with a lot of challenges.

The court said the policy has led to some people engaging in trade by barter in this modern age in a bid to survive. The court added that the President’s disobedience of the February 8 order, is a sign of dictatorship.

Reacting to the ruling on social media, netizens hailed the Supreme Court for nullifying the naira policy and listening to the cries of Nigerians, while others slammed the apex for the ruling.

See some of the reactions below.

@Northerner0 wrote: “Do they have power for that? Well, even if they didn’t pass the judgment today, we are confident that the president-elect (Bola Ahmed Tinubu) will reverse the judgement and let it continue as legal tender.”

@kingsleylead wrote: “What can be so wicked, the Buhari government stopped Nigerians from accessing their legitimate funds all in the name of winning an election.”

@YenyCrystal wrote: “No need for the end date…it should just be in circulation till the old Naira fades off, while the new Niara should be printed more…simple.”

@trueAFICIONADO wrote: “Supreme court has said their own, waiting for the CBN to say their own because supreme court is not the bank that will collect it from us.”

@VictoryOwai wrote: “The wahala be say if Supreme Court order is rejected now, them fit also reject court order when Obi is declared winner.”

@phemidawhiz wrote: “How much was that amount spent on printing new naira notes again? I want to determine the level of cashout.”

@OmoKiikan wrote: “Listen to the Supreme court at your own risk. Na wetin Emefiele talk we go follow.”

@olorunwababs wrote: “Nigeria is a theatre of confusion; will CBN honour Supreme court’s ruling? Time will tell.”

@VoteDefenderNG wrote: “Apparently, Supreme Court waited to see who will win the election before ruling on this case. They needed to play safe to save their job. Let’s all get ready to hold the Supreme Court accountable on Obi’s suit.”