Revealed: Real Reason Petrol Stations, Others Stopped Collecting Old Naira Notes

Revealed: Real Reason Petrol Stations, Others Stopped Collecting Old Naira Notes

  • Abubakar Usman, the special assistant to Ahmed Lawan, the senate president, has alleged that some banks wrote to petrol stations to stop collecting old naira notes
  • The APC chieftain also said the silence of President Muhammadu Buhari and the CBN has fueled the confusion about the legality of the old notes
  • According to him, despite the Supreme Court ruling, the intervention of the national council of state, and the president pleading for citizens to give him seven days, there was silence from President Buhari and CBN

FCT, Abuja - Abubakar Sidiq Usman, the special assistant to the senate president, Ahmed Lawan, on new media, has said that the Supreme Court injunction on the implementation of the naira redesign policy has left many Nigerians confused.

Usman, a chieftain of the All Progressives Congress (APC), said that though the Supreme Court has temporarily stopped the banning of the use of old naira notes and the federal government promised to comply, there was no formal pronouncement.

Abubakar Sidiq Usman/President Muhammadu Buhari/Naira Redesign/Godwin Emefiele/CBN/2023 Election
APC chieftain alleges some banks wrote petrol stations to stop collecting old notes. Photo Credit: Abubakar Sidiq Usman
Source: Twitter

Why petrol stations, traders stopped collecting old notes

The APC chieftain added that the silence from the federal government and the Central Bank of Nigeria has brought more confusion into the polity.

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Taking to his Twitter page, Usman said there was a report of banks writing to petrol stations to stop collecting the old notes, adding that the act fueled the uncertainty on the expiration of the old naira notes.

He then lamented that President Muhammadu Buhari, who begged Nigerians to give him seven days to resolve the crisis caused by the naira redesign policy, has kept mute, even after 10 days.

Latest about President Muhammadu Buhari, Abubakar Usman, APC, Naira redesign, CBN, Emefiele, naira scarcity

He added that the silence came even after the National Council of States met with the president and extensively discussed the issue.

His statement reads in part:

"There are reports that banks wrote to petrol stations over the weekend not to admit old notes as they, the banks, will no longer take them in, leaving us with a situation of uncertainty regarding the policy and it’s expiration."

See the tweet here:

Cash Crunch: Old man bursts into tears in bank, laments hunger, rains curses on CBN earlier reported that the wave of naira scarcity in the country has hit the common man as an old man burst into tears in a bank because he could not access his money.

The old man lamented that he had been hungry and needed to get his medicine and could not meet his basic needs because the CBN was holding him to ransom.

Meanwhile, banks have closed many branches in Nigeria because of attacks from citizens who have money with them but cannot access their money.


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