Old Naira Notes Remain Legal Tender In Kaduna – El-rufai

The Governor of Kaduna State, Nasir El-rufai, has said all old notes of the naira remain legal tender in the state.

This is despite a national broadcast by President Muhammadu Buhari which rendered useless the old notes from N100 and above while sparing old N200 as legal tender.

Buhari, who spoke on Thursday, said the policy which replaced the old notes with newly redesigned ones, is aimed at curbing vote buying and corruption.

Reacting, El-rufai, in a state broadcast on Thursday, urged citizens not to panic but to continue spending the old notes in whatever denomination because the Supreme Court had maintained their legal tender tendency until a ruling on February 22.

He said, “Let us stay calm and peaceful, and support the lawful means being utilised to solve our problems. 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. The Central Bank of Nigeria Act, 2007 and the Bills of Exchange Act, both oblige the CBN to recognise your old notes and give you value in new notes whenever you bring them to the CBN, even in the next 100 years.

“Therefore, as your governor, I wish to assure you that the Kaduna State Government, in collaboration with elected legislators, traditional institution, elected local government councils, markets, and traders associations will help you collect, record, document, collate and deliver all your old notes to the Kaduna branch of the Central Bank on your behalf into the new ones immediately after the elections. We will also ensure the delivery of your new notes to your various locations without any hardship or expense on your part. We shall save you any panic and the stress of a long journey from your community to the CBN office in our state capital, from March until December 2023 if need be.”

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