Supreme Court: Old Naira notes are still valid until December 31 2023.

ABUJA— The prohibition against using the outdated N200, N500, and N1000 banknotes as lawful tender was overturned by the Supreme Court on Friday.

The seven-judge bench of the supreme court clearly agreed that the old banknotes should continue to be accepted as legal tender through December 31 2023.

It advocated for continuing to utilize old Naira notes alongside newly designed money.

It criticized President Muhammadu Buhari for implementing the demonization program without consulting the Federal Executive Council, the Council of States, the Civil Society, and other important stakeholders.

President Buhari was accused of breaching the top court's interim ruling, which halted the full implementation of the new monetary policy, in the lead judgment written by Judge Emmanuel Agim.