CBN don extend old naira notes deadline? Wetin we know

Nigerians still neva know di way forward on di old naira notes, weda di Central Bank of Nigeria (CBN) go extend di new deadline wey be Friday, 10 February or dem go shun di Supreme Court order wey say make di apex bank hold on until dem hear di mata on 15 February.

Three northern states of Kaduna, Kogi and Zamfara bin file ex-parte motion on 3 February, say make di court stop di CBN naira redesign policy wey go stop di use of 200, 500 and 1000 naira notes afta 10 February.

On 8 February, di Supreme Court grant interim injunction to stop Nigeria goment from implementing di 10 February deadline and dis one cause mixed reactions from pipo wey bin want di deadline to stand and odas wey want CBN to postpone am.

Justice John Okoro na im preside ova di seven-man panel of di Supreme Court wey grant di interim injunction.

Afta di interim injuction, di Federal Goment through di Minister of Justice and Attorney General of di Federation Abubakar Malami ask di Supreme Court to dismiss di suit wey di three northern states file.

According to di preliminary objection wey Malami file through dia lawyers - Mahmud Magaji and Tijanni Gazali - di Supreme Court lack di jurisdiction to entertain di suit wey di three northern states bring come dia domot.

Di lawyers ask di court to strike out di suit for lack of jurisdiction.

Dem make reference to section 251 of di Constitution and tok say di suit fall within di exclusive jurisdiction of di Federal High Court in matas of monetary policy of agency of di Federal Goment.

But despite all dis drama among di parties wey dey involved, di policymaker wey be di CBN neva tell Nigerians wetin dem want do next. So some confusion dey ground.

Nigerians still dey collect and spend di old naira notes

Meanwhile for some parts of Nigeria, pipo still dey spend and collect di old naira notes as at Friday, 10 February.

For Lagos, Nigeria commercial capital, bus drivers still collect di old naira notes on Friday while oure tori pesin observe say business dey go as usual wit di old naira notes inside Kano city for di north.

‘Make una give me 7 days’

As di issue of old and new naira notes dey cause kasala for several parts of di kontri, President Muhammadu Buhari on 3 February ask Nigerians to give am seven days to resolve di mata.

President Buhari say im bin see reports of cash shortage and di effect wey e get on local business and ordinary pipo of di kontri.

According to di president, dem go use di remaining seven days of di ten-day extension wey CBN give afta di first deadline to address di factors wey dey block di successful implementation of di policy.

Tok-tok pesin for di president, Garba Shehu, release statement afta members of di Progressive Govnors Forum visit di president. For di statement, President Buhari say di currency redesign go “boost di economy and provide long-term benefits” to di kontri.

“Some banks dey inefficient and only dey concerned about demselves”, na so di President tok. “Even if dem add one year, problems wey dey associated with selfishness and greed no go go away."

As di mata be, Nigerians and banks dey wait to hear from President Muhammadu Buhari and di CBN to know if dem go still dey spend dia old naira notes or e go cease to legal tender afta today.

'CBN dey bound to follow injunction

'

Although di CBN and President Buhari neva tell Nigerians wetin be di next step to take, but one Senior Advocate of Nigeria Ifedayo Adedipe tell BBC Pidgin say di apex bank dey bound to follow di Supreme Court injunction wey stop di naira redesign policy until di court hear di mata.

Di lawyer tok say di Supreme Court action dey allowed by law.

Adedipe say sake of di injunction by di Supreme Court, di 10 February deadline no go fit happun again. E say di CBN suppose obey di injuction.

“If some set of states dey aggrieved and dem tink say di Supreme Court get di power to listen to dem, until di mata dey looked into, e dey proper make dem preserve di subject mata, na im be wetin just happun,” di lawyer tok.

Kata-kata wey di new design policy cause

Di policy cause kata-kata for many parts of di kontri as some banks dey hoard di new naira notes and customers no see both new and old naira notes collect for counter and ATMs. Dis one make some angry customers attack banks and stage protests for some parts of di kontri.

For Warri, Delta State, one video show where bank customers dey climb step escape sake of say angry customers wey no see cash collect begin attack di bank staff. Oda videos show some bank customers dey naked diasef to protest sake of say dem no see moni collect for bank.

Oda videos show ATMs wey angry customers destroy for Abeokuta Ogun state sake of dia lack of access to cash. Some banks don shut down to guarantee dia staff safety while some dey close early and also take oda preventive measures against kasala.

To calm dia customers down, viral videos how some banks dey buy soft drinks for dia customers wey dey inside banking hall and di ones wey dey queue to use di ATMs.

Both banks and Nigerians dey cross dia fingers as dem dey expect announcement from di two oga at di top, President Muhammadu Buhari and CBN Oga Godwin Emefiele.