Following the compliance of the Central Bank of Nigeria (CBN) on the Supreme Court’s ruling validating the old naira notes, Zamfara State Governor, Bello Matawalle, says citizens can now heave a sigh of relief as more cash is expected in circulation.
On Monday, the apex bank asked money deposit banks to dispense and accept old naira notes until December 31, as stipulated by the apex court.
Governor Matawalle, in a swift response, described the CBN’s directive as a victory for Nigerians.
In statement by his spokesman, Zailani Bappa, the governor maintained that the suit instituted against the naira redesign policy by some state governments is for the good of the country’s micro-economy and the well-being of the average Nigerian.
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“All Nigerians can now sigh a relief on this matter, and we expect more cash to be in circulation to ease our pains, while those who were unable to replace their old naira notes with the scarce new notes will no longer lose their hard-earned money,” he stated.
“Those who accused us of going to court for the sake of the presidential elections, even as Nigerians groaned under the policy implementation, are now proven wrong as we did not relent until we succeeded in achieving our demand to its logical conclusion.”
He also commended President Muhammadu Buhari for distancing his administration from any attempt to disrespect the verdict of the Supreme Court on this issue, believing that the action has greatly facilitated the victory of the people.
Matawalle is optimistic that all banks will totally comply, urging the masses to fully recognise the value of the old naira notes until December 31.