Many Nigerians have greeted the announcement of the Central Bank of Nigeria (CBN) that the old N1,000, N500, and N200 notes remain legal tender.
Development Diaries reports that the CBN reluctantly accepted the ruling of the Supreme Court that the old notes should remain legal tender till 31 December, 2023.
Some Nigerians have expressed their pain on social media, condemning the silence of President Muhammadu Buhari and the CBN Governor, Godwin Emefiele, after bringing untold hardship to Nigerians.
Taking to Twitter after the announcement, this tweep, @UmehWrites, said the apex bank never had the interest of Nigerians at heart.
It’s evident these people don’t care about the people, it’s all about PoliTRICKs.
People went through hell because of new naira policy, but it was done to limit opposition in election. Even the military trucks had its own motive. These people are so annoying— Umeh💡 (@UmehWrites) March 14, 2023
@KneWKeeD is asking a very pertinent question. The Twitter user asked, ‘You mean to tell me that people suffered for no reason at all’?
You mean to tell me that people suffered for no reason at all?🤬
— Eric Okafor (@KneWKeeD) March 14, 2023
@GTemple359 thinks the apex bank should do more on information dissemination in rural areas as people there still reject the old currency.
‘Please announce it on the TV stations and radio for mostly people in the rural area to hear this, some people are still finding it difficult to accept the old notes’, the tweep said.
Please announce it on the TV Stations and Radio for mostly people in the Rural area to hear this, some people are still finding it difficult to accept the old notes
— Temple of God 💵🦅 (@GTemple359) March 13, 2023
@hilda_adaora has unanswered questions for the apex bank.
So what was the point? What did you achieve? It seems like you guys wake up everyday and ask yourselves, “what do we do to frustrate Nigerians today?”
— Hilda 👩🍳 (@hilda_adaora) March 13, 2023
For this tweep @Irunnia_ , she clearly expressed her pain at the effect the policy had on Nigerians.
So you guys introduced the new money to rig the elections and now after people suffered, slumped and died in queues to get their money they saved in banks you have brought back the old money. So all these sufferings were for nothing? E no go better for our politicians. Amen.
— IRUNNIA #OBIDIENT (@Irunnia_) March 13, 2023
On the issue of communication
It has been observed that many Nigerians clearly do not trust the announcement from the bank based on previous occurrences where the apex bank had debunked supposedly ‘fake news’.
The CBN is known to quickly debunk news reports it perceives as a threat to the image of Emefiele, but it is always very slow in communicating necessary information to Nigerians.
The bank had earlier debunked what it described as fake news a report that the CBN governor launched a fresh plot against the president-elect, Bola Tinubu.
In February, the apex bank debunked a viral statement which was shared by the wife of the president, Aisha Buhari, that it had extended the validity of the old notes till 01 May.
This tweep, @phree2rhyme, is seeking clarity from the CBN. ‘I hope you won’t come tomorrow morning to tell us your Twitter account was hacked and we should disregard the fake news’.
I hope you won’t come tomorrow morning to tell us your twitter account was hacked and we should disregard the fake news
— MrPhreedom (@phree2rhyme) March 13, 2023
The reactions from Nigerians are expected, as many had anxiously waited for President Buhari and Emefiele to comply with the Supreme Court ruling.
Development Diaries implores the CBN to ensure that commercial banks comply with this new directive.
We also ask that the apex bank uses all communication channels to reach Nigerians in rural areas with messaging about the recirculation of the old notes.
Photo source: CBN