{"id":69767,"date":"2023-03-03T12:30:42","date_gmt":"2023-03-03T11:30:42","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=69767"},"modified":"2023-03-03T12:38:01","modified_gmt":"2023-03-03T11:38:01","slug":"breaking-news-supreme-court-nullifies-fgs-currency-redesign-policy","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/breaking-news-supreme-court-nullifies-fgs-currency-redesign-policy\/","title":{"rendered":"Breaking News:  Supreme Court Nullifies FG&#8217;s Currency Redesign Policy"},"content":{"rendered":"<p>&#8230; Direct N200, N500 and N1000 to remain in circulation till 31st December 2023<\/p>\n<p dir=\"ltr\">The Supreme Court, on Friday, faulted President Muhammadu Buhari\u2019s decision to redesign the N200, N500 and N1,000 banknotes without consulting the 36 states of the federation.<\/p>\n<div align=\"left\">\n<p dir=\"ltr\">The apex court held that though President Buhari could exercise Executive Powers on behalf of the federation, he ought to have given reasonable notice to the federating units before executing the new monetary policy through the Central Bank of Nigeria, CBN.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<\/div>\n<div align=\"left\">\n<p dir=\"ltr\">It held that reasonable notice was not given to the states as required under section 20(3) of the CBN Act, before the old Naira notes were withdrawn.<\/p>\n<\/div>\n<p dir=\"ltr\">\nConsequently, the Supreme Court, in its lead judgement that was delivered by Justice Emmanuel Agim, held that the approval that President Buhari gave the CBN to withdraw the old banknotes was invalid.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>&#8230; Direct N200, N500 and N1000 to remain in circulation till 31st December 2023 The Supreme Court, on Friday, faulted President Muhammadu Buhari\u2019s decision to redesign the N200, N500 and N1,000 banknotes without consulting the 36 states of the federation. The apex court held that though President Buhari could exercise Executive Powers on behalf of &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":27369,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[10213],"coauthors":[2391],"class_list":["post-69767","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-currency-redesign"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Breaking News: Supreme Court Nullifies FG&#039;s Currency Redesign Policy - National Wire<\/title>\n<meta name=\"description\" content=\"Breaking News:Supreme Court Nullifies FG&#039;s Currency Redesign PolicyBreaking News: Supreme Court Nullifies FG&#039;s Currency Redesign Policy\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/breaking-news-supreme-court-nullifies-fgs-currency-redesign-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Breaking News: Supreme Court Nullifies FG&#039;s Currency Redesign Policy - 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