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SocialMediaTrends: What Nigerians are saying as confusion over naira swap lingers

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Buhari, Emefiele

Nigerians on Friday woke up to the news of protests all over the country, with reported protests in parts of Lagos, Oyo, Ogun, Rivers, and other states.

Security personnel soon made public statements of arresting the situation in no time.

The protest is not unconnected to the naira scarcity that has plunged the nation into chaos.

News of relief soon circulated when major media outlets in Nigeria reported that old notes not exceeding #500,000 can now be deposited to banks. Apparently, it was false.

Recall that President Buhari had in a public announcement on Thursday reaffirmed the Central Bank of Nigeria’s policy of declaring the old notes as no more legal tender.

He directed the CBN to release the old N200 banknotes back into circulation and be allowed to circulate as legal tender with the new N200, N500, and N1000.

To the amusement of Nigerians, recall that last Wednesday, the Federal Government was prohibited from enforcing the February 10 deadline for the use of old naira notes by the Supreme Court, acting in a case brought by the states of Kaduna, Kogi, and Zamfara.

Some states including Ogun, Kaduna and others soon toe in with the decision of the Supreme Court to further compound the confusion among Nigerians.

The apex bank, in a somewhat dramatic fashion, released a memo on its official handles affirming what the President had said during the broadcast.

Nigerians took to social media to express their opinions on whose directives to follow and the underlying motivation of the FG, CBN, and states.

Read Also: SocialMediaTrends: Reaction trails return of alleged $954,000 Alamieyeseigha loot. More stories inside

See how Nigerians are reacting:

…By Hamsat Rashid

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