Zamfara Governor, Bello Matawalle, has charged the police to arrest anyone found declining old naira notes of N200, N500, and a thousand denominations in the state.
Matawalle made the charge on the back of some persons’ refusal to collect the old notes in transaction amid the uncertainty surrounding its phasing out by the Central Bank of Nigeria, CBN.
The governor while speaking at the swearing-in ceremony of new High Court Judges and newly appointed special Advisers held at the Government House, Chamber II in Gusau, the state Capital said the old notes retains its status as medium of exchange until the Supreme Court passes final verdict on the case instituted against the CBN and the federal government by three Northern Governors of Kaduna, Kogi and himself at the apex court.
Part of his remark, “As you are all aware, the economy of the country as a whole has been plunged into a serious crisis by the decision of the Central Bank to cease recognition of the old naira notes as legal tender from February 10th. This decision compounded the already dire situation of our State occasioned by banditry and sundry crimes, which significantly disrupted economic activities in the State and the subregion over the years.
“It was in consideration of the grave consequences of this disruptive policy which was not well thought out, that I took the decision to team up with the sister states of Kaduna and Kogi to seek the intervention of the Supreme Court to ensure that both the new and old naira notes remain as legal tender beyond February 10th. Gladly, the Supreme Court has given an interim injunction barring the CBN from enforcement of its plan of derecognizing the old notes as legal tender from today, pending its final ruling on the matter on February 15th.”
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