Arrest anyone rejecting old Naira notes- Matawalle

Arrest anyone rejecting old Naira notes- Matawalle

Governor Bello Matawalle of Zamfara has ordered the arrest of anyone who refuses to accept the old currency notes of two hundred, five and one thousand naira in the state.

He said the old currency notes remain legal tender until the final verdict of the case instituted against the Central Bank of Nigeria (CBN) and the federal government by three Northern Governors of Kaduna, Kogi and Zamfara States at the supreme court.

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Matawalle stated this 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.

He explained that, he and his counterparts of Kogi and Kaduna states approached the supreme court to order the extension and validity of the old 200, 500 and 1000 naira notes.

“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,” Gov. Matawalle said.

“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.”

Matawalle also commended the Supreme Court for “doing the needful”, which he said will alleviate the suffering of the masses.