Several women protested this morning in Yenogoa, the capital city of Bayelsa, over the unwillingness of shopkeepers and transporters to take outdated naira notes.
The women stopped the important Melford Okilo road while chanting numerous chants about how they were dissatisfied and suffering through hell because traders and transporters in the city refused to take old naira notes despite the Supreme Court’s injunction.
Remember that the Supreme Court extended the validity of the N200, N500, and N1,000 Naira notes until 31 December on March 3. A seven-member judicial panel chaired by John Okoro unanimously ordered that the CBN be liquidated.
Nigerians continue to send us old notes.
The court also ruled that President Buhari’s instruction to redesign new notes and withdraw old ones without appropriate consultation is unconstitutional.
Despite the Supreme Court’s decision, the Central Bank of Nigeria has yet to issue a decree allowing Citizens to begin spending old notes.
Most Nigerians do not have access to old notes because many banks do not accept any notes, old or fresh.