NAIRA NOTES: Mixed reactions follows Buhari’s order on N200 old note’s validity

On Thursday, some residents of the Kano metropolis differed in their reactions to President Muhammadu Buhari’s approval of the continued use of the old N200 note as legal tender.According to the News Agency of Nigeria, some residents applauded the Federal Government for extending the use of the old N200 notes by 60 days as a legal tender while others said the number of days for the extension was still inadequate.

The respondents called on the Central Bank of Nigeria (CBN) to allow the newly redesigned N1000, N500 and N200 notes to be in circulation.A petty trader, Malam Bala Shehu said extending the time for the continued use of the old N200 was a welcome development.Shehu added that the February 10 deadline in which the naira denomination ceased to be legal tenders and the scarcity of the new notes had affected his business.

He said many small businesses would survive with the President’s approval to continue using the old N200 notes.Also, Malam Garba Gezawa, a commercial tricycle operator, commended the decision of the FG, adding that the scarcity of lower denominations made most of their members suspend their operations.

According to him, the N200 note is the most sought denomination by students, market women and petty traders.He called on the federal government to also extend the deadline for the old N500 and N1000 notes.

Speaking in the same vein, Mamman Suraj, a civil servant, tasked the CBN to make the new naira notes available and immediately put the old N200 notes back in circulation to ease the current suffering of Nigerians.

Malam Ali Bakari, an economist, advised the CBN to make the redesigned naira notes available by printing more, or if printing would be complex, the apex bank should allow the continued use of the old notes until April 10.

However, Mrs Agnes George, a hairdresser, urged residents to take advantage of President Buhari’s pronouncement by depositing all old N1000 and N500 notes at the CBN and other designated points.

George, who lauded the President for allowing the continued use of the old N200 notes as legal tender for another 60 days, also appealed for the extension of such a gesture to other old notes.She narrated that the deadline extension would reduce ATM queues and panic and uncertainty among small business owners and other residents.

Earlier today, SAHEL STANDARD reported that Buhari announced the extension of N200 old note validity.

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