Despite the pronouncement by the governors of Kano and Jigawa states, Abdullahi Ganduje and Muhammad Badaru, that the old N500 and N1000 notes remain legal tender in their respective states, merchants and residents of the states are rejecting the notes ancient.
Residents of neighboring states can be seen flocking to deposit the old naira notes into the Central Bank of Nigeria (CBN) in both states as directed by the federal government.
On Thursday, the Jigawa state government took a stand against President Muhammadu Buhari, who insisted against a Supreme Court injunction that the old N500 and 1000 notes were no longer legal tender.
Governor Badaru urged residents of the state to continue using the coins as a legal means of paying for goods and services and for other business transactions. The state government based his decision on the Supreme Court ruling.
“The Jigawa State government respects the rights of its people and those who reject the now ancient coins should desist from disobeying the law and causing hardship for the people of Jigawa State. The Jigawa State Government will not hesitate to use section 287(1) of the Constitution (as amended) and other existing laws to enforce the order of the Nigerian Supreme Court.
Governor Ganduje also encouraged businessmen across the state to reject the old naira notes to desist from doing so. He threatened to revoke licenses and convert commercial bank structures into public schools for refusing to accept the old N500 and N1,000 notes.
Mr. Ganduje asked the residents to continue transacting with the old and new banknotes. The governor also vowed to shut down any business establishments that refuse to accept the old bills as legal tender and to prosecute the owners.
In both states, PREMIUM TIMES observed that between Thursday and Saturday, residents conducted their routine business by adopting the cashless policy. However, they were rejecting the old notes for the currency.
A resident of Dutse, the capital of Jigawa state, Rufai Adamu, lamented that despite the state government’s order, business owners, including gas stations and shops, are rejecting the old naira notes.
“The unfortunate part is that most of the companies that reject the old naira notes cannot offer any other payment alternative. Some also reject interbank transfers, perhaps due to repeated network failures,” Adamu said.
On Saturday, a journalist in Jigawa, Ali Rabiu, who visited the local government areas of Taura and Ringim noted that N500 and N1,000 were no longer legal tender.
I was in Taura for a wedding, and they are rejecting the old naira notes, on my way back I stopped by Ringim to buy something, and they also told me that they are not accepting the old naira notes.
Partial difference in Kano
In Kano, some shops are collecting old naira notes for the sale of specific products.
Abdullahi Worker told PREMIUM TIMES that between Friday and Saturday, some egg traders in the Gaida area of the Kano metropolis were collecting the old naira notes from residents who wanted to buy eggs.
“I witnessed how the shops that sell eggs are charging the old naira note but regardless of how much money you are spending they will not give you change and have increased the price of the egg for buyers with the old naira notes” . said the Mr. Worker.
However, just like in Jigawa, merchants in Kano are also rejecting the old naira notes.
On Friday, a traveler, Ibrahim Haruna, said his planned trip to Adamawa state from Kano aboard the Kano government public transport (Kano Line). However, he was delayed because the car parks management did not collect the old naira notes from him.
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“According to the government announcement about charging old currency, I was confident that they will collect the old naira notes, but when I arrived at the park, I found out that the situation was contrary to the government’s decision, but I was lucky that I paid through of an electronic transfer,” Mr. Haruna said.
On Saturday, the PREMIUM TIMES correspondent toured Kano and noted that merchants are rejecting the old naira notes. How some peddlers of detergents are doing good business by collecting the old naira notes.