EL-RUFAI battles CBN over claims that N500, N1000 old notes already destroyed

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AS the battle for the soul of Nigeria continued over the crisis Cashless Policy has generated in the past weeks, Governor of Kaduna State, Nasir El-Rufai disclosed that the Federal Government has proposed to allow only the old N200 notes to remain legal tender till April 10 2023, DAILY POST reported on Wednesday.

 

 

 

This was contained in a statement on Wednesday by Muyiwa Adekeye, Special Adviser on Media & Communication to governor El-Rufai.

 

 

 

 

The Governor debunked claims making the rounds that the All Progressives Congress Governors met with the Federal Government on Wednesday.

 

 

 

 

However, he said that some Senior officials of the President Muhammadu Buhari-led government reached some governors, including himself, on the phone to seek an end to the currency redesign crisis.

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He said the Federal Government claimed it had destroyed the N500 and N1000 notes already deposited.

 

 

 

He added that the proposal made by the federal government is an inadequate solution to Nigerians’ sufferings.

           

“Rather, Senior officials of the FG reached some governors, including Malam Nasir El-Rufai, on the phone to initiate discussions on a possible out-of-court settlement. The proposed terms allowed only the old N200 note to remain legal tender and circulated by the CBN until April 10 2023. They claimed that the CBN had already destroyed the old N500 and N1000 notes that had been deposited but that those who still held the old notes could redeem them up to April 10 2023.

“These were not considered as serious proposals, for obvious reasons. Circulating the old N200 notes alone would not be sufficient to relieve widespread human suffering in Kaduna State and, indeed, in Nigeria today.

They knew that which is why they falsely claimed that the CBN had already destroyed the old N500 and N1000 notes. It is contrary to the fact available to the governors that the old notes were in the custody of commercial bank branches throughout Nigeria until the evening of Monday, February 13, and not a single N500 or N1000 had been destroyed”, the statement contained.

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