Tricycle riders, food vendors, provision shop owners, and salon owners have expressed reluctance to accept the old notes due to difficulties in spending them. Fuel stations and transporters reject the messages, and some customers prefer to pay electronically.
Jacinta Nweke, a salon owner, shared her experience of UNTH staff refusing to accept the old notes as payment for hospital bills. She said they told her they had not received any directive from the appropriate authority. Gloria Okoroafor, a resident of Achara layout, also reported a tricycle rider refusing to accept the old notes.
Many business owners are concerned that accepting the old notes may be a good use of money if they cannot spend them. Despite the Supreme Court's ruling, the lack of directives from the appropriate authority has left many unsure about the legality of accepting the old notes.
The Central Bank of Nigeria introduced new banknotes in 2007 to replace the old ones. However, some Nigerians filed a suit challenging the constitutionality of the demonetization policy. In 2018, the Supreme Court declared the policy illegal, unconstitutional, null, and void.
Although the judgment validated the use of the old notes, there is a lack of clarity on implementing the ruling. As a result, many business owners will only accept the old N500 and N1,000 messages once they receive proper directives from the appropriate authority.