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Kogi govt orders arrest of persons, businesses rejecting old naira notes

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The Kogi State Government is taking a firm stance against the rejection of old naira notes and has ordered the arrest and prosecution of individuals and businesses that refuse to accept them. In a statement released by the Commissioner for Information, Kingsley Fanwo, the government expressed its congratulations to Nigerians on the "historic ruling of the Supreme Court," which declared both old and new naira notes as legal tenders until December 31, 2023.

According to the statement, the Yahaya Bello administration had collaborated with other states to pursue the case and alleviate the difficulties arising from the scarcity of cash in circulation. However, it has come to their attention that some people and businesses are still refusing to accept old notes, despite the court validating their use. Commissioner Fanwo has labeled this "a clear disobedience of the Supreme Court ruling" and is regarded as unacceptable.

He went on to say that anyone who refuses to accept old naira notes should be reported to security and government authorities for immediate action. Furthermore, banks that decline old naira deposits will be punished harshly, including being sealed. Fanwo emphasized that financial institutions that deliberately disobey court orders, particularly those from the highest court in Nigeria, will not be tolerated.

"Since the banks are issuing the old naira notes, they are obligated to accept them. We cannot continue to harm our economy after the Supreme Court has granted us freedom," Fanwo added.

To ensure full compliance with the verdict, the Kogi State Government has established a high-powered committee. The government hopes that this move will encourage people and businesses to embrace old naira notes, leading to economic growth.

Source: DailyPost

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Kingsley Fanwo Kogi Nigerians Supreme Court Yahaya Bello


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