CBN Sparks Mixed Reactions Over Directives On Old Naira Notes

Some Nigerians have taken to social media to vent their anger as the Central Bank of Nigeria disobeyed the Supreme Court’s orders on the acceptance of old notes.

Naija News earlier reported that the apex bank in its latest statement claimed that the old N200, N500, and N1000 ceased to be legal tender on February 10, 2023.

CBN stated this despite the Supreme Court restraining the apex bank from going ahead with the deadline after Kogi, Kaduna, and Zamfara States filed a suit before the court.

The court had answered the prayer of the states and adjourned the case till February 15.

However, there has been silence on the part of the apex bank since the court gave its ruling.

The CBN Branch Controller in Bauchi, Haladu Idris Andaza, in a chat with journalists said the old notes were no longer legal tender.

This sparked mixed reactions online as many people questioned why President Muhammadu and CBN will disobey the court order while others claim the decision would cause suffering.

@adamugarba wrote: “Disobeying a Supreme Court order is a contempt on Justice and a clear pathway to anarchy! Any institution that disobeys the order of the court of law is simply a jungle that must be called to ORDER!”

Omotayo Williams wrote: “200, 500 and 1,000 notes are now illegal tenders. For those with the illegal tender, you were warned. Buhari government disobeyed ECOWAS court, disobeying its own supreme court is the least of its concerns”

@martiinsu wrote: “CBN has a right to disobey it. The supreme court is just ridiculing themselves by dancing to the tunes of Tinubu APC. Supreme court has no power over cbn monetary policies. The order is a very wrong precedent. Tomorrow someone can stop them from adjusting the interest rate abi?”

@Qdpaper2 wrote: “No Cash in the country yet Godwin Emefiele still wants to frustrate Nigerians by saying Old Naira Notes are no more legal Tender. Is the CBN Governor bigger than the supreme Court?”

@EmekaGift100 wrote: “Supreme court ruled that old naira note is still legal tender pending when CBN will make the new naira notes sufficient for people. CBN rejected this judgment insisting that supreme court has no jurisdiction to stop them.Just got info that courts are rejecting the old naira notes”

@AgbakuKingsley wrote: “See how the APC government reduced the Judiciary in Nigeria. A whole Supreme Court Order has been flaunted evn by Court of lowa jurisdictions. Is this the kind of legacy we want to continue? We need a sane and sanitized Country.”

manuel___mannie___ wrote: “In as much as we’re gonna suffer for a short period, I think this is for the greater good”

uloodenigbo wrote: “You people can’t make life anymore harder for us”

flexiblelive_entertainment wrote: “Some people are saying this is going to affect the politicians alone , check ur self now if this is not affecting you and your family , Hardlife for Naija”

ninivel1 wrote: “How do a country rule out old note without making excuses availability of the new one”

emiobans wrote: “Na politicians when keep old notes for vote buying during the election, e go pain pass”

edufunky wrote: “There is more behind this than we all thought. Buhari government does not respect any court ruling on behalf of the common. This same Buhari did this before and history is already repeating again. Many Nigeria are driving direct with speed into poverty and more misery. You are banning old note without making the new note available and easy to access.”