Despite the pronouncement by governors of Kano and Jigawa states, Abdullahi Ganduje, and Muhammad Badaru, that the old N500 and N1000 notes remain legal tender in their respective states, traders and residents of the states are rejecting the old currency notes.
Residents of the neighbouring states can be seen trooping to deposit the old naira notes to the Central Bank of Nigeria (CBN) in both states as directed by the federal government.
On Thursday, the Jigawa State government took a counterposition to that of President Muhammadu Buhari, who insisted against a Supreme Court injunction that the old N500 and 1000 notes were no longer legal tenders.
Governor Badaru urged residents in the state to continue to use the currencies as lawful means of payment for goods and services and for other business transactions. The state government premised its decision on the ruling of the Supreme Court.
“Jigawa State Government respects the rights of its people and those rejecting the now-old currencies are enjoined to desist from disobeying the law and causing hardship to the people of Jigawa State. Jigawa State Government will not hesitate to use section 287(1) of the Constitution (as amended) and other extant laws to enforce the order of the Supreme Court of Nigeria.
Governor Ganduje too, warmed business owners across the state rejecting the old naira notes to desist from doing so. He threatened to revoke licenses and convert structures of commercial banks into public schools for refusing to accept the old N500 and N1,000 notes.
Mr Ganduje asked residents to continue to transact with the old and new notes. The governor also vowed to seal off any business facility that refuse to accept the old notes as legal tender and prosecute the owners.
In both states, PREMIUM TIMES observed between Thursday and Saturday, residents were conducting their routine businesses adopting the cashless policy. However, they were rejecting the old currency notes.
A resident of Dutse, Jigawa state capital, Rufai Adamu, lamented that despite the state’s government order, business owners including petrol stations and stores are rejecting the old naira notes.
“The unfortunate part of it is that most of the businesses rejecting the old naira notes cannot provide another payment alternative. Some are also rejecting inter banks transfers, perhaps, due to repeated network failure,” Mr Adamu said.
On Saturday, a journalist in Jigawa, Ali Rabiu, who visited Taura and Ringim Local Government areas noticed that the N500 and N1,000 ceased to be legal tender.
I was in Taura for a wedding, and they are rejecting the old naira notes, on my way coming back I transited to Ringim to buy something, and I was also told that they are not accepting the old naira notes.
Partial difference in Kano
In Kano, some shops are collecting old naira notes for the selling of specific products.
Abdullahi Worker told PREMIUM TIMES, that between Friday and Saturday, some egg dealers in the Gaida area in the Kano metropolis were collecting the old naira notes from residents who wanted to purchase eggs.
“I witnessed how shops selling eggs are collecting the old naira note, but whatever amount of money you are spending, they won’t give you a change, and they have increased the price of the egg for buyers with the old naira notes,” Mr Worker said.
However, just like in Jigawa, traders in Kano are also rejecting the old naira notes.
On Friday, a traveller, Ibrahim Haruna, said his planned trip to Adamawa State from Kano onboard the Kano government mass transit (Kano Line). It was, however, delayed because the management of the motor parks did not collect the old naira notes from him.
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“Going by the announcement by the government on the collection of the old currency, I was confident that they will collect the old naira notes but upon my arrival to the park, I learnt that the situation was contrary to the government’s decision, but I was lucky that I paid through e-transfer,” Mr Haruna said.
On Saturday, PREMIUM TIMES’ correspondent went around in Kano and noticed that traders are rejecting the old naira notes. How some detergents hawkers are making brisk businesses collecting the old naira notes.
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