GIOTV reports that Senator Shehu Sani, a former Kaduna Central lawmaker, has advised state governors on what needs to be done to address the country’s prevailing naira scarcity.
Senator Sani said on Saturday that the governors should take their complaints to President Muhammadu Buhari directly.
He stated that both the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and the Attorney-General of the Federation (AGF), Abubakar Malami, cannot act without the President’s approval.
Despite a Supreme Court order directing the Central Bank of Nigeria (CBN) to keep the old N200, N500, and N1,000 notes in circulation until December 31, 2023, Nigerians have been experiencing daily difficulties accessing cash.
Banks have also expressed scepticism about accepting the old currencies, while market participants have stated that they will not accept the old notes unless there is a direct statement from Buhari or the CBN Governor authorizing it.
According to the latest developments, some state governors, including Kogi’s Yahaya Bello and Ekiti’s Biodun Oyebanji, have threatened to arrest and prosecute those who refuse to accept the old notes.