Kogi Govt Orders Arrest Of Persons, Businesses Rejecting Old Naira Notes


Mar 10, 2023 #Kogi, #Nigeria

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The Kogi State Government has ordered the arrest and punishment of people and companies on Friday who refused to accept the outdated naira notes.

Nigerians were congratulated on the “historic verdict of the Supreme Court” in a statement by Commissioner for Information Kingsley Fanwo.

The old and new naira notes are still legal tender till December 31, 2023, according to a decision made by the apex court last week.

According to Fanwo, the Yahaya Bello administration joined other states in pursuing the case to lessen the hardship brought on by the lack of funding.

Even after the court approved their usage, he said it was intolerable that some people and businesses still refused to accept the old notes.

“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.”

The statement announced the establishment of a high-powered committee to ensure full adherence and compliance to the verdict.

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