By Shina Abubakar

Commercial banks in Osun state have not started recirculating the old naira note despite Supreme Court judgement that ruled that the old notes should remain legal tender till December 31 this year.

The Supreme Court had on Friday, March 3, ruled that the old naira note should co-exist as a legal tender along with the new notes till December 31, 2023.  

Vanguard correspondent visited several banks in Osogbo on Monday to monitor compliance, but it was discovered that only the old 200 notes was paid to customers over the counter in most banks in the state.

A customer who spoke with Vanguard at commercial bank at Ogo-Oluwa area of the state capital, Ismail Olaide said he has visited two different banks and could not get any money since 8am and was forced to return home disappointed around 3:30pm.

In many of the banks visited along Ogo-Oluwa, Igbonna, Oke-Fia, Stadium areas of the state capital, their customers were stranded outside the banks waiting to get cash.

Meanwhile, the Oluwo of Iwo, Oba Abdurosheed Akanbi has called on the Central Bank of Nigeria to respect the judgement of the Apex Court to reduce suffering among the masses.

“It is pathetic seeing us in this naira mess where you have your money in account but don’t have access to cash to buy common bottle water. It is worst in the side of the masses, artisans and petty traders without account. Nigerians can no longer endure this hardship. Supreme Court has spoken. Please, the federal government and CBN should please listen.

“The silence of the naira authorities will turn judiciary to paperweight should they refuse to act on the directive of the apex court. I fear and  pray the continuous silence will not promote anarchy in the country”, he said.