Inability to spend old N500, N1,000 notes disappointing

Inability to spend old N500, N1,000 notes disappointing — Osun residents

Residents of Osogbo in Osun State have decried their inability to spend the old N500 and N1,000 denominations in spite of the Supreme Court’s pronouncement that they remain legal tender until December 31.

Residents, who spoke with the News Agency of Nigeria on Saturday, said they were happy with the Supreme Court’s judgement, but were disappointed when traders refused to accept the money.

A civil servant, Mr Adejare Agunloye, said he withdrew N10,000 old notes through the Automated Teller Machines with the belief that it would solve the cash crunch he was facing.

Agunloye said he was, however, disappointed when traders refused to collect the money from him.

According to him, the traders say the Central Bank of Nigeria’s Governor, Mr Godwin Emefiele, and President Muhammadu Buhari, had not spoken or directed the public to start collecting it.

“The situation is really messed up.

“Imagine the situation where the Supreme Court would give a judgement and people still have to wait for the President to give such court order power of authenticity.