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Nigerian Court Postpones Case Against Demonetization Once Again

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Nigeria’s top court delayed ruling on a suit seeking to stop the central bank from ending the use of old banknotes that has created an acute cash shortage in Africa’s largest economy just days ahead of presidential elections.

The Supreme Court on Wednesday fixed March 3 to rule on whether the central bank should be ordered to allow old 500- and 1,000-naira bills to stay in use beyond a deadline that expired almost two weeks ago, Abdulhakeem Mustapha, a lawyer representing states that sued the central government, said. The court had earlier postponed the case from Feb. 15.