Nigerian News

Naira scarcity: Have pity on Nigerians – Soludo pleads with Buhari

Governor Chukwuma Soludo of Anambra State has called on President Muhammadu Buhari to consider the hardship that the currency redesign policy is inflicting on Nigerians.

He appealed to the president to ameliorate their plight and urged him to obey the ruling of the Supreme Court, which declared that the old and new notes should serve as legal tender for now.

Soludo made the call while speaking at the burial mass of the First Republic Minister of Aviation, Chief Mbazulike Amechi

He said; “I express gratitude to the President and Commander in Chief of the Federal Republic of Nigeria, Muhammadu Buhari, who is represented by the Minister of Labour and Employment, Chief Chris Ngige.

“I call on the President to consider the agony faced by the Nigerian people as a result of the new naira redesign policy. Since the Supreme Court has declared that the old and new naira notes should remain legal tender until judgment is rendered, the President should obey the ruling of the apex court, which placed him in the position of President of Nigeria.”

Buhari on Thursday ordered the Central Bank of Nigeria (CBN) to allow the old 200 naira notes and redesigned 200, 500 and 1000 naira notes to coexist.

The president, in a national broadcast aired said only the 200 old naira notes will continue to be legal tender till Monday, April 10.

He said; “I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from Feb. 10, 2023 to April 10 2023.

“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.

“Let me assure Nigerians that our admin. will continue to assess the implementation with a view to ensuring that Nigerians are not unnecessarily burdened. In this regard, the CBN shall ensure that new notes become more available & accessible to our citizens through the banks.”