Before accepting and spending the old N500 and N1,000 notes, a cross-section of traders has insisted on a clear mandate from President Muhammadu Buhari.
Speaking to journalists in Lagos State, traders stated the assurance from the President or Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, will persuade them to begin using/accepting the notes.
According to news reports, a Supreme Court order issued on Friday, March 3rd, said that the old N500 and N1,000 notes shall remain in circulation until December 31st, 2023.
Nonetheless, merchants have voiced conflicting sentiments about executing the Supreme Court’s ruling.
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Mr Barnabas Israel, a food dealer in Ori-Oke, Ejigbo, expressed concern regarding the availability of the old notes.
“Is there any old notes outside after everybody has deposited the one they had?
“However, no one has brought the old notes to my shop, and if they do, I would not collect it because no one is collecting it in my area,’’ he said.
Similarly, Mrs Paulina Akuneme, a baker in Ili-ewe, Ikotun Egbe, voiced her unwillingness to take the old notes. She claimed the CBN should have issued more fresh notes.
“What I expected the Supreme Court to have done was to order the Central Bank to print more of the new notes and make it available for people to see and use.
“Nigerians have moved on. I can assure you that we are still going to experience this difficulty by December,’’ she said.
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Also, Alhaji Musa Jamiu, a yam seller in Liasu market, said he would not collect the old notes until the president said so.
“Is it the Supreme court that own the Central Bank or print the currency, it is the central bank and the Federal Government that can do so and put them into circulation.
“It is until they choose to obey the Supreme Court order, the Supreme Court order is null and void as far as I know.
“Do you not know that the N200 note is in circulation because the federal government and the central bank say it should be, so the notes were brought back in circulation,’’ he said.
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