Old naira notes
By Ambrose Ologide, Warri
There was apprehension as heavy military patro was observedl in some major roads in Warri South and Uvwie Local Government Areas on Friday 17th February, 2023 .
More than a dozen military trucks and armoured cars loaded with battle ready soldiers were seen at Warri / Sapele Road by Cemetery Road Warri as at the time of filing this report.
The soldiers prevented curious residents from recording their actions. Some unfortunate residents that were caught recording their patrol had a bitter story to tell.
Meanwhile President Muhammadu Buhari’s broadcast on the naira scarsity seemed to have worsen the situation in both local government areas.
Prior to the announcement, the old currency was used for transactions in both local government areas.
However following the announcement, the 500 and 1000 naira notes were rejected for transactions by residents.
Some food vendors particularly in Okumagba Layout and Warri Garage have started using the money transfer methods in their businesses.
The 1st Vice Chairman of Mile 11 Security Organisation , Igbudu Market, Warri Mr Christian Agbefe blamed the ugly development on the Governor of Central Bank, Mr Godwin Emifele .
He accused Mr Emifele of making inadequate preparations for the naira notes swap .
While another official of Mile 11 Security Organisation, Clement Okome noted that the naira scarcity has inflicted hardship on the masses.
On his part, a Warri based renowned public analyst Chief Akpojotor Adjarho noted that President Buhari’s broadcast was misinterpreted by residents of both local government areas including the media .
” On item 15 of Buhari’s broadcast, he said that his administration respects the rule of law and that the courts have made pronouncements.
” With this, he acknowledged that the there was a restraining order by the Supreme Court on Federal Government not to reject the use of the old currency until the order is vacated.
” The Supreme Court order has not been vacated,yet they have started rejecting the old 500 and 1000 naira notes ” Chief Adjarho added.
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