On Friday residents of Kaduna are currently battling with indecision following the statewide address of the State Governor, Nasir El Rufai over the legality of old Naira notes in the state.
Recall that the Central Bank of Nigeria had warned that old notes will no longer be accepted as legal tenders by February 10, 2023, a declaration that led to a suit at the Supreme Court.
The Supreme Court had given an interim injunction against the CBN, halting the ban on old N200, N500 and N1000 notes after the February 10 deadline.
However, President Muhammadu Buhari during a national broadcast, overruled the Supreme Court, insisting that the old N500 and N1000 notes were no longer legal tenders but extended the validity of only the old 200 naira notes.
Controversy further deepened when in his address to Kaduna State, Mallam Nasir El-Rufai emphasised that the old notes remain legal tenders until Supreme Court decides otherwise.
He warned, “For the avoidance of doubt, all the old and new notes shall remain in use as legal tender in Kaduna State until the Supreme Court of Nigeria decides otherwise. The Kaduna State Government and its agencies shall seal any facility that refuses to accept the old notes as legal tender and prosecute the owners.”
While some say instructions of President Buhari must be adhered strictly to, others say, as the chief security officer of Kaduna State, El-Rufai reserves the right to direct and order whatever needs to be done in his state.
Dr. James Moses, a lecturer at the Department of Political Science, Ahmadu Bello University Zaria said the state governor has the full right and privileges to direct and implement rules in the state under his jurisdiction.
He said, ”if the state government had seen the suffering of his people and decided to extend a few days, weeks of grace so that residents of his state would have a breathing space, it is a welcome idea.”
Also, a Professor of Law in the same University, James Bawa Atama said the governor has the power, just like the president, except that the governor only exercises his powers within his jurisdiction.
He said since the issue of old Naira notes is already in court, it becomes imperative for everyone to wait until the outcome of the judgement so as not to jeopardize the ruling of the court.
It was found that in Kakuri, Nassarawa, Kurmin Gwari, businessmen/women have continued to reject the old Naira notes.
Suleiman Yusuf who sells provisions said “already the Central Bank of Nigeria promised enough circulation of new notes, there is no need to accept old ones.
Mrs. Janet Usman, another trader who deals in food items in Kawo market said, ” I will only accept new notes or transfer into my account.”
She, however, insisted that she would not recognize any cash transfers until she receives an alert of the amount transferred.
