Sunday, July 5, 2026

Continue to spend old notes, Tinubu will reverse decision when he wins: El-Rufai

On Wednesday, the Supreme Court temporarily stopped the Central Bank from withdrawing old naira notes from circulation.

• February 8, 2023
Kaduna state Governor, Nasir El-Rufai
Ex-Kaduna State Governor, Nasir El-Rufai

Kaduna governor Nasiru El-Rufai has urged citizens to disregard the Central Bank’s directive and continue to transact with old denominations of the naira notes which the apex bank is phasing out. He said the policy will be reversed once APC presidential candidate Bola Tinubu becomes president.

“Everyone, especially people in Kaduna should not be disturbed because of the naira swap deadline,” said the Kaduna governor in the Hausa language. “Continue running your businesses and daily activities with whatever notes (old or new) you have.”

He added, “And we will make sure to address this problem as soon as we win the election. That will be the first issue to tackle if we win the election.”

Mr El-Rufai made the assertion while speaking with a political audience in his state, urging them to stop thronging banks to swap their old notes or obtain new ones.

The Godwin Emefiele-led CBN had said old denominations of the N200, N500 and N1000 notes would cease to be Nigerian legal tender from February 10 as a major plank of its new cash policy. The decision has left many Nigerians in quandary as the new notes remain acutely scarce.

“Don’t rush yourself into taking old naira notes to the bank, and wasting your time in the unnecessary queues at the bank. Nobody can stop you (people) from using the notes,” Mr El-Rufai assured.

“When we come to power, (Insha Allah), if Bola Tinubu becomes the president, we’ll give people more time to get rid of the old naira notes.”

On Wednesday, the Supreme Court temporarily stopped the Central Bank from withdrawing old naira notes from circulation. This followed a suit by governors of Kaduna, Zamfara and Kogi.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

U.S. President Donald Trump

World

U.S. 250th Anniversary: Trump launches $1,000 investment accounts for babies

Trump Accounts is central to the administration’s push to ‌promote investing and financial literacy from an early age.

President Bola Tinubu

NationWide

Interfaith dialogue key to tackling Nigeria’s insecurity: Tinubu

The president urged religious leaders to sustain their efforts in preaching peace and tolerance.

France vs Paraguay

Sport

2026 World Cup: France break Paraguay resistance 1-0 to earn quarter-final berth

France will face Morocco in the quarter-finals of the 2026 FIFA World Cup after both nations secured victories in their Round of 16 encounters.

Emeka Iroegbu

Diaspora

Consulate condemns alleged killing of Nigerian, Emeka Iroegbu, by South African metro police

The consulate said Mr Iroegbu, 50, was allegedly murdered on June 28 in Sunnyside, Pretoria, in the Gauteng province.

FG inaugurates N137 billion road projects in Borno

States

FG inaugurates N137 billion road projects in Borno

He stated that when completed, the roads would boost trade and agricultural activities and enhance the efficiency of security operations.

Subsidised cotton seed distribution

States

Katsina govt, COPMAN launch subsidised seeds for 1,000 cotton farmers

The initiative is designed to make quality cotton seeds affordable and encourage increased cotton production during the current farming season.