The Supreme Court of Nigeria has nullified the federal government's cashless policy and Naira redesign as I do not have access to real-time news updates. However, I can explain what these policies are and their significance.
The cashless policy was introduced by the Central Bank of Nigeria (CBN) with the aim of reducing the amount of physical cash in circulation and promoting electronic transactions. The policy placed restrictions on cash withdrawals and deposits in certain transactions and introduced charges on cash transactions above a certain limit.
The Naira redesign, on the other hand, involved the introduction of new banknotes and with improved security features and durability.
Both policies were aimed at improving the efficiency and security of financial transactions in Nigeria. However, they were also met with criticism and opposition from some quarters, with concerns raised about their impact on businesses and the general public.
If the Supreme Court of Nigeria has indeed nullified these policies, it could have significant implications for the country's financial sector and economic policies. It would also raise questions about the role of the judiciary in policymaking and the extent to which it can challenge government policies. Nonetheless, without further information, it is not possible to provide a more detailed analysis of the situation.
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