N1000, N500 Are Still Legal Tender In Jigawa – Govt

The Jigawa State Government has said the old naira notes remain legal tender in the state pending the judgment of the Supreme Court.

The state Commissioner for Information, Youths Sports and Culture, Ibrahim Mamsa, stated this in a statement issued late Thursday.

This is coming despite the position of the President, Major General Muhammadu Buhari (retd.), that only the N200 old note remains legal tender till April 10, while the N500 and N1000 notes cease to be legal tender.

“The Jigawa State Government wishes to inform members of the Public that, it has come to its notice some individuals and corporate bodies are rejecting the now-old N200, N500 and N1000 notes. The Jigawa State Government is concerned about the conduct of such individuals and corporate bodies.

“As a law-abiding government, there are suits by various state governments of which Jigawa State is among before the Supreme Court of Nigeria. The court has issued an order restraining the Federal Government of Nigeria, either by itself or acting through the Central Bank of Nigeria and/or commercial banks, ministries, parastatals, organisations or through any person or persons (natural and artificial) howsoever, from suspending or determining or ending on February 10, 2023 the time frame within which the now older versions of the 200, 500 and 1000 denominations of the naira may no longer be legal tender pending the hearing and determination of the motion on notice.

The state government urged residents to report any trader or business organisation that refuses to accept the old N200, N500 and N1000 notes as legal tender to the nearest appropriate authorities in the state.

Check Also

Breaking! Kano Gov-Elect Issues Executive Order

Kano state governor-elect, Abba Kabir Yusuf, has warned individuals, groups and organisations undertaking construction on …

Naira Policy: Business Won’t Recover On Time – NECA

The Nigeria Employers’ Consultative Association, or NECA, has issued a warning that the cash swap …

DMO Reveals Nigeria’s Huge Public Debt

Nigeria’s total public debt stock increased to N46.25 trillion or $103.11 billion as of December …

Leave a Reply

Your email address will not be published. Required fields are marked *