"You're Disobeying The Law": Akeredolu Reveals What Will Happen if People Continue to Reject Old Naira Notes
- Akeredolu has begged residents of Ondo State to accept the old naira notes
- Akeredolu said rejecting the old naira notes is disobedience to the Supreme Court Ruling
- He expressed disappointment that a large part of the residents are rejecting the notes
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Rotimi Akeredolu, Ondo State Governor, has criticised the state's continued rejection of old naira notes by traders and business owners.
According to the governor, rejecting the old N500 and N100 notes is a disobedience of the law.
Source: Getty Images
Governor praises commercial banks for accepting old naira notes
In a statewide broadcast on Thursday, February 9, 2023, the Government stated that rejecting the old naira notes will inflict unnecessary pain on the people and businesses.
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The governor said the old notes are still legal tender and have been lawfully approved as legal tender via the Supreme Court ruling.
The apex court, the governor stated, ruled that the old currency notes must remain legal tender and be used to exchange goods and services in Nigeria.
Leadership reported that the governor begged the people to accept the old notes alongside the new ones as stated by law.
He praised commercial banks in the state for dispensing and accepting the old notes, asking them to increase the circulation of all currencies in the country
The governor also commended commercial banks in the state for receiving and paying with the old notes.
"Rejecting old notes is disobeying the law"
He expressed worry that many of the people of Ondo State, especially traders, taxi drivers, barbers, mechanics, and others, are rejecting the old naira notes.
He said their actions are inflicting pain on fellow citizens and customers.
He said:
"I, theThetion of the old N1000, N500, and N200 notes by us will do us no good. It will stifle our local trade and business transactions, weaken our economy and cause us great harm and avoidable troubles.
"I hereby use this opportunity to appeal to you all, my good people of Ondo State, to embrace and accept the old and new notes as stipulated by law. Let us not create needless tension over the matter. Please collect, spend, and exchange the old notes without let or hindrance."
Governor follows El-Rufai's steps
Akeredolu's state broadcast follows the one done by his Kaduna State counterpart, Governor Nasir El-Rufai, in which he asked residents to disregard the directive of President Muhammadu Buhari and accept the old naira notes.
Nigerians need clarification about the ruling of the Supreme Court on the matter, with many saying they are waiting for the Central Bank of Nigeria (CBN) to issue directives concerning the apex court's ruling.
CBN speaks as banks resume paying Nigerians in old naira notes, customers Kick
Legit.ng reported that the Central Bank of Nigeria (CBN) has denied telling banks to pay customers with old naira notes despite a recent Supreme Court ruling allowing their use until December 31.
Isa Abdulmumin, the CBN spokesman who spoke to DailyTrust, said there was no official statement yet.
Legit.ng had reported that commercial banks began dispensing the old N500 and N1000 Naira notes.
Source: Legit.ng
