Nasir El-Rufai, the governor of Kaduna State, has urged locals to accept the old N500 and N1000 notes as lawful tender, thus challenging President Muhammadu Buhari’s order.

On Thursday night, Mr. El-Rufai broadcast the instruction to state people.

Mr. El-Rufai portrayed the naira redesign policy during the program as a tool used by members of the ruling party and close associates of President Buhari to thwart Bola Tinubu, the party’s presidential candidate, from winning the 25 February poll.

Mr. El-Rufai called the program “mindless” and claimed that it had put the state’s common citizens—who he called its victims—through immeasurable misery.

“The sad fact is that the victims of these mindless policies are the people that elected us. It is their welfare that is being threatened. Many of our people have been left in a situation where the money they put in banks has literally been confiscated, depriving them of the ability to buy food and basic necessities. Our traders cannot sell as much as they used to because their customers have no access to their hard-earned money,” he said.

He claimed that the Central Bank’s leadership had duped President Buhari into believing that the policy was intended to stop politicians from amassing large sums of money in order to buy votes during elections. Nasir El-Rufai, the governor of Kaduna State, has urged locals to accept the old N500 and N1000 notes as lawful tender, thus challenging President Muhammadu Buhari’s order.

On Thursday night, Mr. El-Rufai broadcast the instruction to state people.

In the program, Mr. El-Rufai claimed that members of the ruling party and close associates of President Buhari were using the naira redesign strategy as a weapon to defeat Bola Tinubu, the party’s presidential candidate.

Mr. El-Rufai called the program “mindless” and claimed that it had put the state’s common citizens—who he called its victims—through immeasurable misery.

“It’s a terrible fact that the people who elected us are the ones who suffer from these foolish policies. It is their well-being that is under danger. Many of our people are now unable to purchase food and other basics since the money they deposited in banks has essentially been taken away from them. Because their clients cannot access their hard-earned money, our merchants are unable to sell as much as they formerly did, he claimed.

He said President Buhari was deceived by the leadership of the Central Bank to accept the narrative that the policy was meant to check politicians who amassed huge cash to buy votes during the elections. In a direct challenge to the directive of President Muhammadu Buhari, the Governor of Kaduna State, Nasir El-Rufai, has asked residents of the state to accept the old N500 and N1000 notes as legal tender.

The governor added that some members of the ruling party who were unsuccessful in the party’s primary for president are orchestrating the policy in an effort to sabotage the party and its candidates.

“It is crucial that the people of Kaduna State and Nigeria as a whole understand that, despite public statements and appearances to the contrary, this policy was developed and pitched to the President by individuals who were wholly defeated in the APC’s gubernatorial and presidential primaries in June 2022.

“Once Asiwaju Bola Tinubu emerged as the candidate in June 2022, and subsequently did not pick one of them as his running mate, this currency redesign policy was conceived to ensure that the APC presidential candidate is deprived of what they alleged is a humongous war chest,” he said.

Mr El-Rufai therefore directed residents of the state to continue accepting the N500 and N1000 notes as legal tender.

“For the avoidance of doubt, all the old and new notes shall remain in use as legal tender in Kaduna State until the Supreme Court of Nigeria decides otherwise,” he said.

“I, therefore, appeal to all residents of Kaduna State to continue to use the old and new notes side by side without any fear. The Kaduna State Government and its agencies shall seal any facility that refuses to accept the old notes as legal tender and prosecute the owners. If need be, we shall take further consequential actions according to the law.”

He gave the state’s citizens his word that they wouldn’t lose their cash in the old naira notes.

“On behalf of the Kaduna State Government, I wish to assure you that none of you would lose the money you have in old notes. Let no artificial and illegal deadline frighten you. Whether you live in towns, villages or in our isolated rural communities, do not feel stampeded to deposit your old notes in the banks. Hold on to them. Continue to use them as legal tender as ordered by the Supreme Court of Nigeria. No deadline can render them worthless, ever. The law is on your side. The Central Bank of Nigeria Act, 2007 and the Bills of Exchange Act, both oblige the CBN to recognise your old notes and give you value in new notes whenever you bring them to the CBN, even in the next 100 years.

“Therefore, as your governor, I wish to assure you that the Kaduna State Government, in collaboration with elected legislators, traditional institution, elected local government councils, markets, and traders associations will help you collect, record, document, collate and deliver all your old notes to the Kaduna branch of the Central Bank on your behalf into the new ones immediately after the elections. We will also ensure the delivery of your new notes to your various locations without any hardship or expense on your part. We shall save you any panic and the stress of a long journey from your community to the CBN office in our state capital, from March until December 2023 if need be,” he said.

The governor’s order is a clear violation of President Buhari’s directive from Thursday morning, which restricts the legal tender of the naira to include the N200 notes.

The order of Nigeria’s Supreme Court specified that the old N200, N500, and N1,000 notes should continue to be legal tender until the outcome of a lawsuit brought before it by Mr. El-Rufai and certain state governors, and Mr. Buhari’s directive was blatantly in breach of that judgment.