Newspaper Headlines: Food traders slash prices of items over naira scarcity

The Punch reports that were confusion and uncertainty among Nigerians over the February 10 deadline by the Central Bank of Nigeria (CBN) for the phasing out of the old naira notes following the supreme court verdict. The newspaper says President Muhammadu Buhari has approved the establishment of a presidential transition council in preparation for his handing over on May 29. 

The Nation says more commercial banks have shut down over the lack of cash to pay customers. The newspaper reports that some senior advocates of Nigeria (SANs) have asked the CBN to obey the verdict of the supreme court suspending the February 10 deadline for the use of the old naira notes.

Daily Trust reports that the scarcity of both old and new naira notes has forced traders across the country to slash the prices of their goods. The newspaper says the National Universities Commission (NUC) has directed universities to close for three weeks for the forthcoming elections.

Daily Independent says the Independent National Electoral Commission (INEC) has barred card-carrying members of political parties from being collation and returning officers. The federal government has warned against rejection of the use of point of sale (POS) machines at filling stations, the newspaper reports.

THISDAY reports that Abubakar Malami, attorney-general of the federation, said the federal government will obey the ruling of the supreme court on old naira notes but the government would take necessary steps to set aside the interim order. Godwin Obaseki, governor of Edo, said not all 36 states are against the CBN deadline for the phase-out of old naira notes, the newspaper says.