The cash withdrawal limit may not be part of the ruling by the supreme court on the new naira policy.

According to LEGIT.NG, the Central Bank of Nigeria (CBN) may go ahead with implementing its cash withdrawal limit despite the ruling of the Supreme Court on Friday, March 3, 2023.Information Guide Nigeria

Recently, the court reversed CBN’s deadline for using the old N200, N500, and N1000 notes as legal tender. The court extended their shelf lives to December 31, 2023.

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However, the ruling did not affect CBN cash withdrawal limit, which it says is meant to reduce cash in circulation.

The court stated that President Muhammadu Buhari’s approval of the policy was unconstitutional and a breach of the fundamental rights of Nigerians.NYSC Portal

LEGIT.NG reports that Justice Agim stated that Buhari acted without consulting relevant bodies and agencies of government before directing the CBN to introduce the new naira notes unlawfully.JAMB Result

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