Use Your Old Naira Notes, Says Governor Nasir El-Rufai, To Traders

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced plans to redesign the N200, N500, N1,000 notes in October 2022, Nigerians were told to deposit their old notes before January 31, 2023, when the old notes would cease to be legal tender.

The deadline was, thereafter, shifted to February 10, 2022 but many Nigerians have found it difficult to obtain the new naira notes from the banks.

On Tuesday, in a meeting with the traders in Kaduna, Governor Nasir El-Rufai, told traders in the state to continue using the old naira notes for their transactions. He hinted that Bola Ahmed Tinubu, the presidential candidate of the All Progressives Congress (APC) if elected, he will review the naira redesign policy.

“Stop changing your money and tell everyone to stop taking money to banks. If you sell anything, accept the old note if it’s given to you. Stop saying it’s only the new notes that you will accept because your market will stop and that is what they want,” he said.

“Tell everyone in Kaduna who has the old notes to spend it and buy items. Tell every trader to accept the old notes.

"Nasir El-Rufai, Uba Sani, and Asiwaju Bola Ahmed Tinubu promise you that if we (APC) are elected, this policy will be changed and everyone will be given sufficient time to change their money.

See video below, the Governor spoke in Hausa:

“Stop taking your money to banks, keep them with you. Nobody can make your money to become worthless. It is the law; nobody can do it.

“It’s just a matter of time; be patient. We have 18 days to the elections. Once the elections are over, you should expect what Asiwaju Bola Tinubu would say, which is the change of this policy.

"You should help us pass this message to relatives. Everyone should stop taking money to banks; continue trading with the old notes.” Said El-rufai.

On Wednesday, the Supreme court temporarily restrained the federal government from banning the use of the old naira notes from February 10, after a suit was filed by Kaduna, Kogi and Zamfara states at the Supreme Court against the CBN.

The Kaduna State Governor Nasir El-Rufai said the ruling would relieve the suffering caused by what he called a “callous” and “myopic” policy by the CBN.