Kaduna State governor, Nasir El-Rufai, has declared the old N200, N500 and N1000 notes legal tenders, and directed residents in the state to continue to use them, despite President Muhammadu Buhari’s directive that the old N500 and N1000 notes be returned to the Central Bank of Nigeria (CBN).
While directing the CBN to recirculate the old N200 note to the financial system to ease the current cash crunch, President Buhari, in a nationwide broadcast on Thursday, insisted that the N500 and N1000 notes remain illegal and phased out.
In total affront to the President’s approval of the monetary policy directive of the apex bank, Governor El-Rufai doubled down his opposition to the policy in a statewide broadcast on Thursday night.
The governor, in a counter directive, insisted that all previous bank notes remain legal tender. He described the president’s directive that the new monetary policy of the CBN stands as illegal and an affront on the Supreme Court.
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#YourViewTVC | February 17TH, 2023
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