Naira Scarcity: El-Rufai Blows Hot, Counters Buhari’s Directive On Old Naira
Kaduna State governor, Nasir el-Rufai, has directed that old and new naira notes remain legal tender in the state pending the outcome of supreme court judgment.
Buhari in a televised address on Thursday said he has directed the Central Bank of Nigeria, CBN, to allow N200 notes remain legal tender until April 10.
According to the president, all N500 and N1,000 notes will remain redeemable a the CBN and designated points for 60 days.
His directive came less than 24 hours after the supreme court insisted that the old notes were still valid, and adjourned the case filed by many states – including Kaduna, seeking an extension to the deadline on the old notes beyond February 2022.
Reacting, el-Rufai stated that all old notes would remain legal tender until the supreme court dete...