Nigeria cash changeover hangs in balance after court order

Supreme Court orders deadline be suspended as economy reels from after-effects of programme

Central Bank of Nigeria
Wikimedia/Commons/Godwin Paya

Nigeria’s top court has intervened to suspend a changeover to a new banknote series, amid widespread distribution problems that have spread chaos throughout the economy.

The Central Bank of Nigeria’s (CBN) deadline for exchanging old banknotes for redesigned denominations had been set for February 10. Ahead of the swaps time limit expiration, however, the country’s Supreme Court issued an order to suspend the invalidation of old naira notes.

The court’s decision stemmed from a suit filed by

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