FOLLOWING the ruling of the Supreme Court of Nigeria on the continued use of the old naira notes, some commercial drivers in Alimosho have begun re-accepting the old notes, as market women still insist that they would not accept the old notes, pending a declaration by the Central Bank of Nigeria.
Recall that the Supreme Court on Friday, March 3, 2023, ordered that old #200, #500, and #1,000 notes remain in circulation till December 31, 2023.
ICYMI: SUPREME COURT ORDERS CONTINUED USE OF OLD #200, #500, #1000 NOTES UNTIL DECEMBER 31
The Apex Court also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution.
However, over the weekend, some market women across major markets in Alimosho, including stall owners rejected the old notes, as according to them, the CBN has not said anything.
A trader who spoke to Alimoshotoday on the reason why she would not accept the old notes said that she doesn’t want a situation where she would take the notes, and then when she gets to the markets to restock her shop, the major dealers would refuse.
"If I take the old notes and the women that sell in Iyana-Iba and Ikotun refuse to accept it, what will I do with it? At least let the CBN Governor or the President should speak first," she said.
Findings also showed that the old notes were rejected at the Iyana-Iba, Igando, and Ikotun markets.
