“PoS Operators Are Now CBN": Nigerians React as Old Naira Notes Get Five Extra Days, Emefiele Remains Silent

• The Federal Government has decided to obey the Supreme Court judgment which gives an extra five days for the use of naira notes after the February 10, deadline
• Nigerians have responded to the new development in the Central Bank of Nigeria's deadline for the usage of old naira notes saga, as cash shortage persists
• Many bank customers now believe that PoS operators have taken over the role of commercial banks

Nigerians have reacted to the now-suspended deadline of February 10, 2023, and also the decision of the Federal Government (FG) to obey court orders.

The FG on Friday, February 10, 2023, promised that it will obey the supreme court order which suspends the CBN deadline and fixed February 15 for a hearing on the matter.

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Attorney General of the Federation, Abubakar Malami, revealed this on Thursday while speaking with AriseTV.

Malami affirmed that the FG would obey the court order, which means that Nigerians have an extra five days to spend the old naira notes.

Although, as of the time of writing this report, Godwin Emefiele, the CBN governor, was yet to speak on the Supreme Court judgment.

Efforts to speak with Osita Nwanisobi, the director of the Corporate Communications Department of CBN, were unsuccessful, as he did not reply to calls

However, checks on the CBN website reveal that the countdown clock for the old naira currency has been removed.

Nigerians react

Femi Fani-Kayode wrote on its Twitter page @realFFK:

"The FG has bowed to the will of the Supreme Court and declared that the old naira notes remain legal tender unless and until the court says otherwise."

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@AlokEjimakor reacted:

"Those asking the Federal government to obey the Supreme Court judgment extending the deadline on old Naira notes should also ask the Federal government to comply with the Court/Tribunal rulings on other cases."

@Intellectual Zealer said:

"Nigeria is confused at the moment. I hope we get things right this time; even a blind man can feel the heat"

@Sammybest also wrote:

" This is the first time FG is obeying the Court order. You, people, should equally follow the court order by releasing MNK."

@ifeanyi mentioned also:

"CBN governor ought to talk because he’s the person who set the deadline, not the FG, anyway PoS operators are now banks, CBN that supplies money to Nigerians"

Robert Clark who spoke on AriseTv said:

"The new naira note is bringing hardship to Nigerians on Thursday I signed a cheque for my staff to cash, the bank said there is no money, I had to buy N100,000 with N25,000"

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Meanwhile, in another report, Taiwo Oyedele provided insight into the benefits of CBN's decision to redesign the naira using a similar policy to the one used in India.

In its bid to promote a cashless economy, India is one of the countries that cashless economy, withdrew 1000 and 500 rupees from the economy.

Emefiele has consistently hinted that the decision to redesign the higher denomination of new naira notes is a global practice.

Source: Legit.ng