Nigerians Reacts as CBN Orders Use of Old Naira Notes

The Central Bank of Nigeria’s compliance with the Supreme Court’s ruling on the old naira notes doesn’t seem pleasant for some Nigerians who have gone through a lot since the scarcity of the naira notes.

Some Nigerians have expressed their dismay on social media, while many welcomed the development of the cashless economy, some noted that the ground was not well prepared for such a policy.

The CBN’s decision to return to the use of old notes has raised these reactions

Meanwhile, the Governor of Zamfara State, Bello Matawalle, has also reacted to the issue. He described the apex bank’s directive as a victory for Nigerians. The apex bank ordered money deposit banks to accept and disburse old naira notes up until December 31 in accordance with the ruling of the supreme court.

In a statement by Matawalle’s spokesman, Zailani Bappa, the governor insisted that the lawsuit brought against the naira redesign strategy by some state governments was for the benefit of the micro-economy of the nation and the welfare of the typical Nigerian.

“All Nigerians can now sigh a relief on this matter, and we expect more cash to be in circulation to ease our pains, while those who were unable to replace their old naira notes with the scarce new notes will no longer lose their hard-earned money,” he stated.

“Those who accused us of going to court for the sake of the presidential elections, even as Nigerians groaned under the policy implementation, are now proven wrong as we did not relent until we succeeded in achieving our demand to its logical conclusion.”

In addition, he applauded President Muhammadu Buhari for separating his administration from any effort to disregard the Supreme Court’s ruling on the matter, noting that he believed this approach had significantly aided the people’s win.

Matawalle added that he is hopeful that all banks will totally comply, urging the masses to fully recognise the value of the old naira notes until December 31.

What Is your reaction to CBN’s decision on the use of the old naira notes?

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