Government Directs Transporters, Traders to Obey Supreme Court Ruling in Yenagoa

Report by Grace Freeman – The Bayelsa State government directs leaders of various unions, association of transporters, traders and petroleum marketers in Yenagoa the Bayelsa State capital to obey the Supreme court ruling on the use of old naira notes till the 31st of December 2023.

Our correspondent who visited the streets and markets reported that some persons are still rejecting the old naira notes despite the Supreme court ruling and the statement from the state government urging them not to do so.

Some market women said they were not sure about the information on the use of the old naira notes hence their refusal.

Governor Douye Diri had earlier urged business owners and marketers to collect the old naira notes inorder to reduce the sufferings caused by the cash crunch on the people in the state.

In a recent meeting with leaders of various unions and associations, Governor Diri noted that the March 3 ruling by the Supreme court has made provisions for the old and new naira notes to circulate side by side till the end of the year.

“There is a lot of misinformation, some people believe that it is the governor that will direct either the release or stoppage of old notes, no. Constitutionally, currency and monetary policy is within the exclusive list of legislation and that means, it is meant for only the federal government”.

However, the Central Bank of Nigeria, CBN has announced that the old 200,500 and 1000 notes are still legal tender to be used for transactions till the end of the year.