Old Notes as Legal Tender till Dec. 31: An Act of Discrepancy against Nigerians – AITA

By Deshi Munkuwe

An Abuja based e anti-corruption NGO, Almushahid Initiative for Transparency and Accountability (AITA) has described the directive by the Central Bank of Nigeria (CBN) on the old N200, N500 and N1000 banknotes as legal tender alongside the redesigned banknotes effect from 13th March till December 31, 2023 as act of discrepancy by the apex bank against Nigerians that were inflicted with utmost hardship since the implementation of new Naira notes redesign policy.

The National President of AITA; His Excellency, Ambassador Aminu Abubakar Majidadi  told Capitalwatch Media in his Abuja office  told our  Managing Editor that the CBN alongside the Presidency and office of the Attorney General of the Federation (AGF) have played with the senses and lives of Nigerians since they introduction of the naira redesign policy.

Recall, the March 3, 2023 judgment by the Supreme Court of Nigeria ordering the CBN to allow the old Naira notes as legal tender till December 31, 2023, the presidency, CBN office of the Attorney General of the Federation (AGF) kept mute in spite of the hardships Nigerians underwent  due to scarcity of cash for their day- top day financial transactions that started in January this year.

However, the Presidency broke its silence on Monday, saying the President never told the CBN and AGF not to obey the order of the apex court ruling on the need to continue to use the old Naira notes as legal tender until December 31st. Suddenly, it came after the Presidency’s confession that the CBN gave directive on the old notes to remain legal tender till December 31.

Reacting to the new directive by the CBN, Amb. Majidadi said AITA as part of its mandate to checkmate the activities of both public and private institutions has reviewed the difficulties the Naira redesign plan has caused millions of Nigerians that made some people committed suicide,            while others  lost their jobs and businesses, and many others starved of hunger nationwide.

According to Amb. Majidadi, AITA after reviewing the plan   said although it was  intended  to stop vote buying during elections, to tackle corruption, banditry and kidnapping among other seasons,  has come to a resolution that the naira notes redesigning plan has failed.

“We wish to express our dissatisfaction over the entire process that instead of fighting enemies of Nigeria, the innocent Nigerians became victims till date as even with the new directive there are uncertainties and crucial questions the CBN should answer.

“As an anti-corruption NGO that has the mandate to checkmate the activities of both public and private organizations against corruption activities and to serve as the voice of the masses, AITA is not satisfy with the process of the naira redesign plan and the outcome so far.” Amb. Majidadi stated.

“The CBN, AGF and the Presidency should tell Nigerians how many of the corrupt individuals and politicians, bandits and kidnappers who said to be the target were actually arrested and or how the plan has stopped banditry and kidnapping activities.” He added.

Majidadi further said AITA is worried over the wastage of billions of Naira said to have been used in printing the redesigned naira notes and yet the masses couldn’t fine the new notes in circulation as proposed. He then asked, “Who and who were majorly in possession of the new notes at the detriment of the Nigerian masses.

“AITA was also aware of the sensitization by the CBN to remote areas in some parts of Nigeria to introduce the new notes and let the local dwellers know about the rejection of the old naira notes, now should we expect same visitations to enlighten the local people on the reintroduction of old notes to avoid confusion?” Majidadi asked.

The National President of AITA in conclusion urged the Presidency, the CBN and the AGF to come out and tell Nigerians the prospects of this plan if any, and to be assured that AITA and millions of Nigerians are watching closely on how the die is cast with the new development, hoping for better ease of hardships Nigerians are confronted with.


Capitalwatch Media is a Monthly Magazine Publication of DE-AITA of DE-AITA Communication LTD.

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