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Independent AfricaOld banknotes case in Nigerian court postponed

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Old banknotes case in Nigerian court postponed

The Supreme Court of Nigeria has postponed a legal case concerning government’s policy of scrapping old banknotes, which has caused a severe cash shortage.

More states, including Lagos and Katsina, have joined the case.

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It will now be heard on 22 February, three days before the general election.

Last week, the Supreme Court suspended a deadline of 10 February for old notes to be handed in.

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But the governor of Nigeria’s central bank, Godwin Emefiele, has added to confusion by insisting that the old notes are no longer legal tender.

He said the situation had calmed substantially.

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Source: BBC

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