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Bello orders arrest of persons, businesses rejecting old naira notes in Kogi

“Rejecting the old naira notes is a clear disobedience of the Supreme Court ruling...”

Yahaya Bello [PM News]

The Kogi State Government has issued an order to arrest and prosecute individuals and businesses that refuse to accept the old naira notes.

The Commissioner for Information, Kingsley Fanwo, issued a statement explaining that the Yahaya Bello administration joined other states to pursue the case to ease the hardship occasioned by the unavailability of cash.

What you should know: The apex court last week ruled that both the old and new naira notes remain legal tenders until December 31, 2023. However, many traders still refuse to treat the old notes as acceptable legal tenders.

What Fanwo said: He said it was unacceptable that some persons and businesses continue to reject the old notes, even after the court validated their use.

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“Rejecting the old naira notes is a clear disobedience of the Supreme Court ruling,” the commissioner stressed.

“Anyone who rejects the old naira notes should be reported to security and government authorities for immediate action. Also, banks that refuse to accept old naira deposits shall be sealed.”

Fanwo warned that the government will not accommodate financial institutions “that willfully disobey court orders, moreso, the orders of the highest court in Nigeria”.

“Since the banks are issuing the old naira notes, they are bound to also receive it. We cannot continue to kill our economy after the Supreme Court has granted us freedom.”

A high-powered committee was also announced to guarantee complete adherence and compliance with the verdict.

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