Nigerians still reject old naira notes despite CBN’s directive
Nigerians still face uncertainties as traders and drivers reject the old N500 and N1,000 notes despite a terse statement released by the Central Bank of Nigeria.
The bank had kept mum after the verdict of the Supreme Court that the old notes should be legal tenders till 31 December. The court ordered the bank should allow the old and new notes to circulate.
But traders and market people are still sceptical about the development. They are not really sure what or whom to believe. There have been several rumours surrounding the validity of the now old notes in the country.
Online Parrot News gathered that the old notes are being dispensed in commercial banks in the major cities in the country. Yet traders are not accepting the notes as they don’t want to fall victims.
When the issue of the naira notes started, the Central Bank of Nigeria Governor Godwin Emefiele addressed a press conference. Nigerians expected him to do the same at this moment.
However, there is no assurance that he would do anything outside the statement that the bank had released pertaining to the validity of the old N500 and N1000 notes.
There were protests which actually threatened the 2023 general elections. Nigerians protested the scarcity of the old naira notes in main cities of the federation.
Later the violence subsided and Nigerians moved on even though their business goes down amidst naira cash crunch.
The Supreme Court had earlier restrained the Central Bank of Nigeria and the Federal Government from banning the old notes. Nigerians hailed the judgement even though the two respondents in the case didn’t obey the court order.
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