Kaduna Residents Thrown Into Confusion Over El-Rufai’s Broadcast

• Kaduna State indigenes are left to battle confusion as the question regarding the legality of old Naira notes persists.

• The Kaduna State governor, El Rufai’s broadcast doesn’t help the residents’ understanding.

• Nigeria’s president has ruled that old N1000 and N500 notes are no longer legal tender, but Nasir El Rufai maintains they are.

EKO HOT BLOG reports that there is currently confusion among residents of Kaduna State over the legality of old Naira notes after a statewide address by the Governor, Nasir El Rufai.

On February 10, 2023, the Central Bank of Nigeria warned that old notes would no longer be accepted as legal tenders. However, the Supreme Court had given an interim injunction against the CBN, halting the ban on old N200, N500, and N1000 notes after the deadline.

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In a national broadcast, President Muhammadu Buhari overruled the Supreme Court, stating that the old N500 and N1000 notes were no longer legal tenders, but only the old N200 notes were still valid.

However, in his address to Kaduna State, Governor Nasir El-Rufai emphasized that the old notes remain legal tenders until the Supreme Court decides otherwise.

The governor warned that all old and new notes would remain in use as legal tender in Kaduna State until the Supreme Court decides otherwise. The Kaduna State Government and its agencies would seal any facility that refuses to accept old notes as legal tender and prosecute the owners.

Some residents have rejected the old Naira notes despite the governor’s directive, stating that the Central Bank of Nigeria had already promised to circulate enough new notes.

Some businessmen and women in Kakuri, Nassarawa, Kurmin Gwari have continued to reject the old Naira notes, while others, like Mrs. Janet Usman have insisted on accepting only new notes or transfers into their accounts.

Dr. James Moses, a lecturer at the Department of Political Science, Ahmadu Bello University, Zaria, explained that the state government has the right to direct and implement rules within his jurisdiction.

He welcomed the idea of extending a few days or weeks of grace to give residents breathing space.

Professor James Bawa Atama, a Law professor at the same university, stated that since the issue of old Naira notes is already in court, it is necessary to wait for the outcome of the judgment so as not to jeopardize the ruling of the court.

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It remains unclear how the controversy over the legality of old Naira notes will be resolved in Kaduna State as residents continue to grapple with indecision amidst conflicting directives from the CBN, President Buhari, and Governor El-Rufai.

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