The kind of confusion that the old Naira note issue has caused in Nigeria has not been seen before.
It is almost resulting in each state having their own decision and law on the matter.
Unfortunately, the silence of President Muhammadu Buhari and the Central Bank Governor, Godwin Emefiele, is adding more fuel to the confusion.
In Ogun State, Lagos’ main neighbour, the pressure is high.
People are refusing the old Naira notes with reckless abandon.
I will Deal With You
But the governor has a little token for everyone engaging in that ‘unlawful’ practice.
Dapo Abiodun is the man at the helm of affairs in the state, sitting in the Governors Office.
He said:Â “I am hereby sounding a note of warning to every merchant, trader, banker, and petrol station that is refusing old naira notes.
“If you’re reported to me, I will deal with you to the fullest extent of the law”.
Most concerned are traders and small business owners in the state rejecting old naira notes within.
He reminded them that the old notes are legal, going by the ruling of the Supreme Court.
“The Supreme Court of Nigeria is the highest court in the land.
“It has been ruled that the deadline for spending the old naira notes has been moved to December 31, 2023.
“Any fuel station, supermarket, or bank that refuses to accept it will be locked down.
“Old naira notes remain legal tender”.
Majority of Nigerians are suffering the effect of the cashless policy. All ATM in banks are now empty machines and the usual queues at those cash points have suddenly disappeared.
Also, the new Naira notes are not even available. Nigerians say the CBN played a trick on them.
Currently, some banks are paying out the old notes, but not many people are willing to receive it.
Their refusal is based on the quietness of the CBN and presidency over the matter.
But this opposes the Supreme Court’s ruling that old Naira notes will remain legal tender until December 31, 2023.
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Nigerians are waiting to hear the order from the CBN governor or President Muhammadu Buhari before following the directive of the Supreme Court.
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