Nigerians React As Buhari Extends Validity Of N200 Notes

Nigerians on Twitter have started reacting to the decision of President Muhammadu Buhari to extend the validity period of the old N200 notes.

Reactions By Nigerians Trail Buhari’s Extension Of N200 Notes Validity Period

Buhari in a national broadcast on Thursday morning extended the validity of the old N200 notes till April 10, 2023.

“I am addressing you as your democratically elected president to sympathise with you over the hardship being experienced as a result of the naira redesign policy.

“To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023, to April 10, 2023, when the old N200 notes cease to be legal tender.“

Since the new naira notes were introduced, Nigerians have been battling scarcity of the notes.

The development has resulted in long queues at banking halls, and Automated Teller Machines (ATM) points.

Following this difficulty, there have been protests in some parts of the country due to the scarcity of the new naira notes.

Kanyi Daily reported that the Central Bank of Nigeria (CBN) had given a deadline of January 31 for the use of old naira notes — but it extended it to February 10 due to a nationwide outcry by citizens.

Recall that the Supreme Court, on February 8, temporarily restrained the federal government from banning the use of the old naira notes from February 10, 2023, pending the hearing of the matter on February 15.

The judgement followed a motion ex-parte on behalf of three northern states Kaduna, Kogi, and Zamfara, who on February 3rd filed a suit seeking to halt the implementation of the CBN’s policy.

But yesterday, Wednesday, the Supreme Court adjourned the hearing in a suit filed by the three against the Federal Government, which seeks a restraining order to stop the full implementation of the naira redesign policy of the Central Bank of Nigeria (CBN) until February 22.

Recall also that the CBN Governor Godwin Emefiele had said the redesigning of naira notes would help to curb counterfeit notes, as well as hamper ramson payment to terrorists and kidnappers.

However, the majority of ordinary Nigerian believe that the policy by the CBN is targeted at politicians who have stashed the old naira notes at home, thus the new naira notes will render the stashed cash useless.

It is also believed that these politicians rely on vote buying to get into power. Nigeria’s general election is eight days away.

The issue of vote buying remains a big challenge for Nigeria’s electoral system. It is widely believed that politicians buy votes from poor electorates on election days.

Reacting to the extension of the validity period for only the N200 naira notes by Buhari, Nigerians took to their various handles and appeared to be commending the president for taking such a decision.

Below are some of the reactions:

“Buhari isn’t dumb. That guy is intentional when he wants to do whatever he wants to do. How do you extend the old N200 and not N500 and N1000? Is that what he just did?”

Buhari isn't dumb. That guy is intentional when he wants to do whatever he wants to do.

How do you extend the old N200 and not N500 and N1000.

Is that what he just did?

— DISTINGUISHED KPMG LinkedIn Everest (@novieverest) February 16, 2023

“I love it 😀
The governors and power brokers are not after the FG printing new notes to meet the demands of Nigerians,  rather they are angry because the redesigning of the naira will affect the old notes they have hidden at home
The fight na surface fight e no reach ground.”

I love it 😀
The governors and power brokers are not after the FG printing new notes to meet the demands of Nigerians, rather they are angry because the redesigning of naira will affect the old notes they have hidden at home
The fight na surface fight e no reach ground pic.twitter.com/EB7MPO7V8u

— barist🌟 Ojay (@AlejiOjay) February 16, 2023

“Recirculating the old 500 and 1000 notes with erode the intention of the policy, Recirculating the old 200 naira note will majorly solve the problem of naira scarcity experienced by average Nigerians.
Politicians care about their warehoused 1000 naira note.”

Recirculating the old 500 and 1000 note with erode the intention of the policy, Recirculating the old 200 naira note will majorly solve the problem of naira scarcity experienced by average Nigerians.
Politicians care about their warehoused 1000 naira note.

— Kelechi (@Nkelechikelvin) February 16, 2023

“He knows what he’s doing. Now the supreme court will base judgement on that.”

He knows what he's doing. Now the supreme court will base judgement on that

— TK🕷️ (@xgteta) February 16, 2023

“It’s funny, but I get his angle. Most stashed funds are in N500 and N1000 denominations, not N200.”

It’s funny, but I get his angle. Most stashed funds are in N500 and N1000 denominations, not N200

— Emmanuel Eyo (@Eyowhiz) February 16, 2023

“The policy has an obvious target and now they have held them by the neck. Safe to say the Supreme Court is wasting their time.”

The policy has an obvious target and now they have held them by the neck. Safe to say the Supreme Court is wasting their time

— Jeremy (@jerry_emy) February 16, 2023

“Buhari understood the game.”

Buhari understood the game

— Pastor Edward Daniel (@edward_pastor) February 16, 2023

“I love that his decision. Let 500 & 1000 notes rot in tinubu’s basement. He waited b4 he was leaving to do d cabal shege. Now d court case has to be adjourned again til after the elections.”

https://twitter.com/imperialtsar/status/1626106847097769985?t=kpnHKxf2b_Dr8fHUSj0XCQ&s=19

“The man totally knows what he is doing very well, he understands what the problem is and where to fight for during this election.”

The man totally knows what he is doing very well, he understand what the problem is and where to fight for during this election

— Sleeks (@sleeks2010) February 16, 2023

“Let’s see how they’ll be able to move around with 200 notes to buy votes 😂😂”

Let's see how they'll be able to move around with 200 notes to buy votes 😂😂

— Scaling Heights (@Paulbest01) February 16, 2023

“Because nobody dey stash away N200 notes for elections 😆.”

https://twitter.com/Kings_CEO/status/1626109088248565765?t=TRvU9V2WZDafvgzf9m1w-w&s=19

“Yeah because most of the cash starched away in private underground vaults, septic tanks, etc are in 500 & 1000 denominations.”

Yeah becos most of the cash starched away in private underground vaults, septic tanks, etc are in 500 & 1000 denominations.

— BenGlads (@abenibo) February 16, 2023

“For 8 years, he just used as to play, now he wants to leave a legacy of free and fair elections. How many bundles of 200 can one share???”

For 8 years, he just used as to play,now he wants to leave a legacy of free and fair elections.. How many bundles of 200 can one share???

— ifeyohmah (@ifeyohmah) February 16, 2023

In other news, operatives of the Economic and Financial Crimes Commission, EFCC, have arrested a suspected internet fraudster, also known as “Yahoo Boy”, Chidozie Kingsley Nwachi, (a.k.a Dozie) for allegedly marrying an American: Nicole Kierulff Sayers falsely, and defrauded her $200,000 (Two Hundred Thousand United States Dollars) in the process.