President Muhammadu Buhari is reportedly considering extending the validity of old naira notes by 60 days.
According to a report of The Cable on Wednesday, February 15, 2023, this is to avoid disobeying the order of the Supreme Court of Nigeria which ruled that the old N1,000, N500 and N200 notes remain valid until it delivers judgment in the case filed by some states against the federal government.
The CBN had insisted that the deadline of February 10 would not be changed but a senior government official revealed that Buhari was worried about the hardship faced by Nigerians as well as the legal implications of disobeying the order of the constitutional court.
The official said that this was the focus of a meeting between Buhari and the leadership of the Nigeria Governors Forum (NGF) as well as the Progressives Governors Forum (PGF) until the early hours of Wednesday.
The governors were then expected to withdraw their case at the apex court.
