NGN/USD: Old Nigeria Naira Banknotes Hearing Adjourned by Court

Nigeria’s top court adjourned a hearing on the use of old naira banknotes after more states joined a lawsuit challenging a central bank decision to outlaw them, prolonging the chaos across the country amid a shortage of the new currency.

The case before the Supreme Court will resume on Feb. 22, Kogi state Governor Yahaya Bello told reporters Wednesday in the capital, Abuja. The central bank in October announced that it would redesign its highest-value banknotes in a bid to mop up excess cash and rein in inflation.