The Supreme Court ruling and Council of State meeting last week caused a shift in the apex court’s deadline. While the court wanted a halt in the policy till its final decision, the council wanted the old and new notes to coexist till the later circulates well.

In Makurdi Benue capital, apart from the paucity of cash, traders now accept the old notes. Commercial motorcyclists, bus drivers and other services are still transacting with the old notes.

But in the rural areas, it is an entirely different ball game. Traders at the Akpagher bush market, along Gboko/Aliade road, for instance, were still rejecting the old notes. Many traders and farmers did not even bring their products to the market, which holds every five days.

A food vendor, who identified herself as Mama Erdoo, told The Guardian that they have heard rumours of an extension of the deadline, but they don’t want to take chances.

According to a farmer, who took a goat to the market, in the villages, they are not even sure of the new deadline; hence, the concern not to be caught unawares and lose their hard-earned money.

In Benue, the extension of the deadline came at short notice after close of work on February 10. Therefore, the rural dwellers, who constitute over 80 per cent of the state, are still sceptical and have opted to toe the path of caution, lest they lose money.

The Guardian learnt that information on the CBN new monetary policy has not been properly disseminated to the grassroots, a situation that has given rise to undue suspense, fear and anxiety in the generality of the populace, especially those who reside outside metropolitan areas and are less exposed to information.

Source: The Guardian