Old N500, N1,000 Notes Remain Legal Tender, El-Rufai Tells Kaduna Residents

Old N500, N1,000 Notes Remain Legal Tender, El-Rufai Tells Kaduna Residents

  • Residents of Kaduna state have been told that the old naira notes remain legal tender as ordered by the Supreme Court
  • This was the submission of Governor Nasir El-Rufai on Thursday, February 16, during his state address
  • As stated in his 33-paragraph speech, he told residents to keep calm, and that the law was on their side

Kaduna, Kaduna - The disparities over whose authority supersedes another, where the old naira notes are concerned, continue.

Governor Nasir El-Rufai says he will remain faithful to the Supreme Court order that affirms the old naira notes as legal tender as against President Muhammadu Buhari's directive that only allows the old N200 naira denomination as legal tender.

Nasir El-Rufai
Governor Nasir El-Rufai told Kaduna residents that the law is on their side and they can continue to use the old naira notes. Photo: Nasir El-Rufai
Source: UGC

The Kaduna state governor stated this on Thursday, February 16, in a 33-paragraph speech sighted by Legit.ng on his officially verified social media account.

Recall that Governor El-Rufai and some other governors of the ruling All Progressive Congress (APC) are at loggerheads with President Buhari and the Central Bank of Nigeria (CBN) over the implementation of the new naira redesign policy that has barred the usage of the old naira notes and limited the availability of cash.

PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!

Hence, El-Rufai and some APC governors filed a joint suit against the federal government and the CBN at the Supreme Court to impede the policy.

Supreme Court's verdict on old naira notes deadline

In its recent ruling, the apex court halted the CBN's stipulated deadline for the usage of the old naira notes.

However, President Muhammadu, during a live telecast in the early hours of Thursday, February 16, said the federal government and the CBN would allow the usage of the old N200 naira notes for 60 days.

Meanwhile, El-Rufai, in his speech, held a contrary view to the President's declaration on national TV.

He said:

"There is no reason why the old notes and the new notes should not coexist until the old notes are gradually withdrawn over the years as is done in the United Kingdom, Saudi Arabia and other countries.
"On behalf of the Kaduna State Government, I wish to assure you that none of you would lose the money you have in old notes.
"Let no artificial and illegal deadline frighten you. Whether you live in towns, villages or in our isolated rural communities, do not feel stampeded to deposit your old notes in the banks. Hold on to them. "Continue to use them as legal tender as ordered by the Supreme Court of Nigeria.
"No deadline can render them worthless, ever. The law is on your side."

"Emefiele and Others Want Military To Take Over, Plan To Make Nigerians Suffer," El-Rufai Insists

Meanwhile, Governor Nasir El-Rufai has accused the governor of the Central Bank of Nigeria, Godwin Emefiele and his backers of making life difficult for Nigerians for personal reasons.

According to him, Emefiele wants to cause so much hardship that would lead to rebellion and consequent military takeover.

The governor added that a retired army general will take over the country on an interim basis if sufficient chaos is created.

“You Are a Committed Public Servant”: Tinubu Hails El-Rifai at 63

In another development, Bola Tinubu, the flagbearer of the All Progressives Congress (APC), has praised Governor Nasir El-Rufai, who turned 63.

The APC bannerman described the Kaduna state governor as a man of good attributes and features.

He referred to him as a technocrat who has blossomed into a committed public servant and politician.

Source: Legit.ng

Online view pixel