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Gov AbdulRazaq terms rejection of old naira notes a criminal offence in Kwara



COVID-19 cases in Kwara now 85, as police discover 8 illegal smuggling routes

The Kwara State Governor, AbdulRahman AbdulRazaq, on Tuesday described as a criminal offence the rejection of old Naira notes in the state.

The Central Bank of Nigeria (CBN) on Monday night directed commercial banks in the country to accept and pay out the old naira notes in compliance with the Supreme Court’s order on the redesign of the naira notes.

Before the CBN directive, many Nigerians were reluctant to collect the old N500 and N1000 notes over the Federal Government’s silence on the Supreme Court’s order.

In a statement issued by his spokesman, Rafiu Ajakaiye, the governor advised residents of the state, especially traders, to collect and spend the old and new naira notes as both are still legal tender in the country.

He said: “As per the judgment of the Supreme Court of Nigeria and the latest circular of the Central Bank of Nigeria (CBN), the old Naira notes still remain a legal tender in the country.

“Banks are now officially issuing the old Naira notes (including N500 and N1,000).

READ ALSO: Lagos to sanction businesses rejecting old naira notes

“I, therefore, urge all residents of our state to spend and receive both the old and the new Naira notes.

“This appeal especially goes to our marketers/traders. Further rejection of the old Naira notes is in breach of the Supreme Court judgment.

“Such rejection is also inflicting economic pains on ourselves. Marketers and indeed everyone in the state can and should receive the old and new Naira notes since commercial banks are now receiving the two.

“Citizens are to note that rejection of the legal tender, such as the old Naira note, is a serious crime under our law.

“I also implore the banks to kindly extend every support within their powers to our people to ease all their transactions as things return to normal.”

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