Saturday, April 1, 2023

Bayelsa govt urges CBN to speak on validity of old naira notes 

The state asked the CBN to respect the judgment of the Supreme Court and ease the hardships of citizens caused by the new naira policy.

• March 12, 2023
Bayelsa governor Duoye Diri and CBN Governor, Godwin Emefiele
Bayelsa governor Duoye Diri and CBN Governor, Godwin Emefiele

The Bayelsa government on Saturday called on the Central Bank of Nigeria (CBN) to respect the judgment of the Supreme Court and ease the hardships of citizens caused by the new naira policy.

The government also appealed for calm amidst the challenges faced by Nigerians following the naira redesign and cashless policy introduced by the CBN.

The government made the call in a statement by the Commissioner for Information, Orientation and Strategy, Ayibaina Duba, following protest by residents of the state over the policy.

It appreciated the pains of the residents caused by the implementation of the redesign policy and the Supreme Court ruling on the old N200, N500 and N1000 currency notes.

It urged the CBN to clarify the validity of the old naira notes being reissued by banks after the Supreme Court judgment.

The statement followed a protest by residents urging the state government to speak on the validity of the old notes being issued by commercial banks, but who in turn reject the old notes as deposits.

“The government thus urges residents to be calm and not engage in acts that could jeopardise the peace of the state.

“The government notes that on March 3, the Supreme Court ruled that the old notes, which had been phased out by the CBN, remain legal tender till December 31 this year.

“While the state government is not against the Naira redesign policy of the CBN or the Federal Government, it is however not comfortable with the method of its implementation that has resulted in further hardship on people of the state and, indeed, the country.

“The government, therefore, urges business operators in the state, particularly banks, traders and keke (tricycle) to take into consideration the Supreme Court ruling in order to reduce the pains of people of the state,” the statement read in part.


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