Jigawa govt declares 1000 and 500 old naira notes legal tender

Despite President Muhammadu Buhari's declaration that the old N500 and N1000 notes have been seized are legal tender on Thursday morning, the Jigawa State Government has taken the opposite stance by advising residents and other people in the state to continue using the currencies as acceptable forms of payment and in business dealings. The Supreme Court's continuing lawsuit which has not yet been definitively determined by the top court served as the basis for the state government's decision.

The Jigawa State Commissioner for Information, Youths, Sports, and Culture, Mr. Bala Ibrahim, announced the position of the state government on Thursday evening. The whole announcement's text was as follows:

“The Jigawa State Government wishes to inform members of the Public that, it has come to its notice some individuals and corporate bodies are rejecting the now-old N200, N500 and N1000 notes. The Jigawa State Government is concerned about the conduct of such individuals and corporate bodies.

“As a law-abiding Government, there are suits by various State Governments of which Jigawa State is among before the Supreme Court of Nigeria. The court has issued an order restraining the Federal Government of Nigeria, either by itself or acting through the Central Bank of Nigeria (CBN) and/or commercial banks, ministries, parastatals, organisations or through any person or persons (natural and artificial) howsoever, from suspending or determining or ending on 10 February, 2023 the time frame within which the now older versions of the 200, 500 and 1000 denominations of the naira may no longer be legal tender pending the hearing and determination of the motion on notice.

“Jigawa State Government respects the rights of its people and those rejecting the now-old currencies are enjoined to desist from disobeying the law and causing hardship to the people of Jigawa State. Jigawa State Government will not hesitate to use section 287(1) of the Constitution (as amended) and other extant laws to enforce the order of the Supreme Court of Nigeria.

“For clarity, the section provides, “The decisions of the Supreme Court shall be enforced in any part of the Federation by all authorities and persons, and by courts with subordinate jurisdiction to that of the Supreme Court”. People are advised to report any traders or business organisation that refuses to accept the now-old N200, N500 and N1000 notes as legal tender in Jigawa State to the nearest appropriate authorities.”

Old 500 and 1000 naira bills are no longer considered legal cash in the country, according to President Buhari's statement on Thursday. The president ordered the CBN to put old N200 notes into circulation as legal cash for the ensuing 60 days in an early-morning national broadcast while directing holders of 500 and 1000 naira notes to deposit them at the Central Bank and other approved locations.

Mr. Buhari gave the CBN instructions to distribute the new notes to all residents. He also expressed regret to Nigerians for the challenges brought on by the execution of the naira's redesign program.

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