As the nation awaits the pronouncement of the Supreme Court in the suit instituted against President Muhammadu Buhari and the Central Bank of Nigeria, CBN, on the deadline for implementation of the redesigned Naira notes, both the old N500 and N1000 notes are still being freely accepted for all forms of business transactions in Kaduna State.
President Buhari had, in his nationwide broadcast last week, said that the two denomination’s ceased to the legal tender in the country from February 10, this year, as earlier directed by the Central Bank of Nigeria, CBN.
However, the All Progressives Congress, APC, Governor of Kaduna State, Mallam Nasir el-Rufai countered President Buhari’ and declared that both the N500 and N1000 currency Notes remained legal tender in the state until the Supreme made a final decision on the suit pending before it on the matter.
He encouraged the residents of the State to continue to do their business with the old and new Naira Notes, assuring them that they had nothing to fear in doing so.
Consequently, a circular was issued to the Ministries, Departments and Agencies, MDAs of the State Government that the old Naira notes were still legal tender in the state
To ensure strict compliance of the directive, business outfits not accepting the old notes were shut down by the agents of the State Government
Following the development, the residents of the State have been transacting business with both the old and New Naira notes with ease.
According to a resident of the State who identified himself as Mohammed, “our governor, Mallam Nasir el-Rufai said we should not reject the old notes until we hear from him and we are still awaiting to hear from him; we are wating to hear from him”
General findings across the state showed that the old notes were being accepted as legal tender by the residents of the state, including marketplace, filling stations, hospitals, and schools, among others
It was gathered that some people who were still having the Old notes in large sum in the neighbouring states now have to travel down to Kaduna State to purchase various goods back to their states .
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