Governor Bello Matawalle of Zamfara State has instructed security agents to arrest anyone who refuses to recognise and accept old naira notes as legal tender in the state. He gave the directive during the swearing‑in ceremony of new High Court judges and special advisers at the Government House in Gusau on Friday, describing the redesign of the currency as ill‑timed and wrongly implemented.
Matawalle stated that the old N200, N500 and N1,000 notes remain legal tender until the Supreme Court delivers its final verdict in the case brought by three northern governors—Kaduna, Kogi and Zamfara—against the Central Bank of Nigeria and the Federal Government. He explained that he and his counterparts in Kogi and Kaduna are seeking a court order to extend the validity of the old notes.
According to the governor, the Central Bank’s decision to cease recognition of the old naira notes as legal tender from 10 February has plunged the national economy into a serious crisis. He added that this move has compounded the already dire situation in Zamfara, which is plagued by banditry and other crimes that have disrupted economic activities in the state and the surrounding region for years.
Matawalle said that, in response to the grave consequences of the policy, he teamed up with the sister states of Kaduna and Kogi to seek Supreme Court intervention to ensure that both the new and old naira notes remain legal tender beyond 10 February. He welcomed the court’s interim injunction, which bars the CBN from enforcing the phase‑out of the old notes pending a final ruling expected on 15 February.
Comments are closed for this story.