February 21, 2024

Nigeria’s Supreme Court has intervened to suspend the conversion to the new banknote series as widespread issuance problems have spread chaos across the economy.

The Central Bank of Nigeria (CBN) has set February 10 as the deadline for exchanging old banknotes for redesigned notes. However, before the swap period expired, the country’s Supreme Court issued an order suspending the invalidation of the old naira notes.

The court’s decision stems from a