Confusion trails El-Rufai’s broadcast over the use of old notes in Kaduna

After Nasir El Rufai’s speech across the state about whether or not old Naira notes are legal, people in Kaduna are still not sure what to do.

Remember that the Central Bank of Nigeria had issued a warning that old notes would no longer be recognised as legal tender by February 10, 2023? This statement prompted a lawsuit at the Supreme Court.

Once the February 10 deadline had passed, the Supreme Court issued a temporary order against the CBN, stopping the ban on the older N200, N500, and N1000 notes.

During a national broadcast, President Muhammadu Buhari went against what the Supreme Court said. He said that the old N500 and N1000 notes were no longer legal money and that he was just extending the use of the old 200 naira notes.

When Mallam Nasir El-Rufai stressed that the old notes remain legal tender until the Supreme Court rules otherwise in his speech to Kaduna State, the controversy grew even more heated.

For the avoidance of doubt, all old and new notes would continue to be accepted as lawful tender in Kaduna State until the Supreme Court of Nigeria rules otherwise, he said in his warning. Any business that won’t take the old notes as legal payment will be shut down by the Kaduna State Government and its agents, and the owners will have to deal with the law.

While some claim that President Buhari’s orders must be carefully followed, others assert that Kaduna State’s chief security officer, El-Rufai, has the authority to direct and order whatever has to be done in his state.

Dr. James Moses, a lecturer in the Department of Political Science at Ahmadu Bello University Zaria, says that the state governor has the full right and power to oversee and pass laws in the state that is under his control.

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He declared that it would be a good idea if the state government had recognised the suffering of its citizens and chosen to grant a few days or weeks of grace so that its citizens might catch their breath.

James Bawa Atama, a law professor at the same university, added that the governor has the same authority as the president but only uses it within the boundaries of his state.

According to him, everyone must wait until the verdict is rendered because the matter of the old Naira notes is already before the court, endangering the ruling.

Obasanjonews24 discovered that businesspeople and women in Kakuri, Nassarawa, and Kurmin Gwari had persisted in rejecting the old Naira notes.

Selling provisions, Suleiman Yusuf stated, “The Central Bank of Nigeria has already pledged sufficient circulation of fresh notes; therefore, there is no need to take old ones.”

Another food vendor in Kawo Market, Mrs. Janet Usman, stated, “I would only accept new notes or transfers into my account.”

But she stated that unless she gets a notification of the amount deposited, she won’t acknowledge any cash transfers.