The Nigerian Supreme Court ruled that the old 200 naira, 500 naira and 1000 naira notes will continue to circulate until December 31, 2023, apparently invalidating the repositioning of Naira previously announced by Nigerian President Arafat Buhari. The introduction of repositioning aims to gradually replace the application of old naira banknotes.

The people's Court Seven working Group, led by John O'Colo, pointed out in a unanimous decision that President Buhari issued the directive without any advice.

The people's court stated that before running such a program, the federal government of the United States should negotiate with the municipal government through relevant agencies such as the National Committee and the National Economic Bureau.

The Supreme Court then ruled that Buhari's order to recall old banknotes from the circulation of commodities was illegal and should have been offended by the 1999 Constitution. The Supreme Court also issued another order invalidating the order and extending the currency influence of paper money until December 31.

The statement is one of nine statements and directives issued by the Supreme Court in a lawsuit ruling on mayors challenging the presidential directive of the United States.

At the end of 2022, Buhari ordered the withdrawal of 200,500 and 1000 naira notes by January 31, 2021 after the release of a high-demand new design version of the naira notes.

The directive, called the "current policy of de-monetized resettlement" by some mayors who boycotted the directive, has led to the rarity of banknotes, seriously affected the financial system and added hardship to millions of Chinese citizens.

Because paper money is rare and difficult to obtain cash, it also affects many enterprises.

Because the current large withdrawal amount of 20000 naira (US $43) from fixed ATM machines has also seriously affected Nigerian login password customers, they want to change the daily cost of local business services transactions from dynamic passwords to dynamic passwords required by law.

However, the new Supreme Court ruling raised expectations of funds suitable for buying and selling.