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El Rufai Dares Buhari Says All Old Naira Notes Remains Valid In Kaduna State.



The governor of Kaduna State,Nasir El Rufai has said that all the old N1000,N500 naira notes still remains a legal tender in the state despite the broadcast of President Muhammadu Buhari officially banning the old naira notes.

Governor El Rufai said this in his statewide broadcast on Thursday 16th February where he address his state on the naira swap policy and also the pronouncement of President Muhammadu Buhari on the subject matter.

Recall that President Muhammadu Buhari on Thursday,in his Nationwide broadcast, directed the central bank of Nigeria to recirculated the old N200 naira notes till April 10 while N1000,N500 notes ceases to be a legal tender in Nigeria a declaration which did not go well with Kaduna state government.

Reacting to the pronouncement of Mr President,El Rufai said that the address by the President on Thursday, limiting the legal tender status of old notes to only N200 amounts to total disregard and disobedience of the ruling of February 8th which was extended further yesterday by the Supreme Court.

Read More:Full Text Of The National Broadcast Of President Muhammadu Buhari On The Currently Swap.

He also said that the action of Mr President is due to the misguided action of the Attorney-General to who is misleading the President into engaging in the public violation of the order of the highest court of the land.

According to him, the action and decision,shows how desperate the policy architects are to cause national chaos, by showing open contempt for the judiciary.

El Rufai thereby advised his people to stay calm and peaceful, and support the lawful means being utilised to solve the problems facing the entire country and the state inclusive.

He further promised them that none of them will any of their money they have in old naira notes.

“Let us stay calm and peaceful, and support the lawful means being utilised to solve our problems. On behalf of the Kaduna State Government, I wish to assure you that none of you would lose the money you have in old notes.

” Let no artificial and illegal deadline frighten you. Whether you live in towns, villages or in our isolated rural communities, do not feel stampeded to deposit your old notes in the banks. Hold on to them. Continue to use them as legal tender as ordered by the Supreme Court of Nigeria.

“No deadline can render them worthless, ever. The law is on your side. The Central Bank of Nigeria Act, 2007 and the Bills of Exchange Act, both oblige the CBN to recognise your old notes and give you value in new notes whenever you bring them to the CBN, even in the next 100 years.

“Therefore, as your governor, I wish to assure you that the Kaduna State Government, in collaboration with elected legislators, traditional institution, elected local government councils, markets, and traders associations will help you collect, record, document, collate and deliver all your old notes to the Kaduna branch of the Central Bank on your behalf into the new ones immediately after the elections.”

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