Kogi to prosecute individuals, businesses rejecting old naira notes

The Kogi State Governor, Yahaya Bello, has threatened to order the arrest and prosecution of individuals and businesses rejecting the old naira notes.

The Supreme Court had last Wednesday declared that the old N1000, N500, and N200 remain legal tender till December 31.

The governor gave the warning in a statement issued by the state’s Commissioner for Information and Communications, Kingsley Fanwo, on Friday in Lokoja.

The governor described as “unacceptable and demeaning” the continuous rejection of the old naira notes despite the Supreme Court’s ruling extending its validity till the end of the year.

Bello said: “This administration will not stand and watch some persons and businesses continue to reject the use of the old naira notes, even after the court judgement validating their use.

“To us, rejecting the old naira notes is a clear disobedience of the Supreme Court ruling, which shall be vehemently resisted.

“Anyone who rejects the old naira notes should be reported to the security and government authorities for immediate arrest and prosecution.

 

“Also, banks that refuse to accept old naira deposits shall be sealed up as the state government will not accommodate financial institutions that willfully disobey court orders, moreso, the orders of the highest court in Nigeria.”

The governor implored the people of Kogi to accept the old naira notes since the commercial banks have started issuing banknotes for day-to-day business transactions.

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He added: “As patriots, the people of Kogi are bound to also receive it because we cannot continue to kill our economy after the Supreme Court has granted us freedom.

“Consequently, the state government has set up a high-powered committee to ensure full adherence and compliance to the ruling of the Supreme Court as regards the use of the old.”

 

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