Naira Crunch: 10 States Ask Supreme Court To Void Buhari’s Directive

VAM News February 18, 2023 in National Tagged 10 states, Buhari’s Directive, Naira Crunch, Supreme Court - 1 Minute

No fewer than 10 states have asked the Supreme Court to declare the directive of President Muhammadu Buhari on the naira swap policy as unconstitutional.

President Buhari had, on Thursday, said the old N200 should be used with the new notes till April 10, 2023, while the old N500 and N1,000 notes ceased to be legal tender in the country.

Buhari also directed the Central Bank of Nigeria (CBN) to recirculate only the old N200 notes.

The President’s directive came after the apex court did not vacate the order that the old N200, N500, and N1000 notes are still legal tender.

Details later…

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