Ogun govt threatens to sanction businesses rejecting old naira notes

The Ogun State government has threatened to revoke the Certificate of Occupancy of any corporation or store rejecting the old naira notes in the state.

Governor Dapo Abiodun issued the warning in a statement posted on his social media handle on Friday.

The governor’s warning followed similar orders issued by his Kaduna State counterpart, Nasir El-Rufai, and several others who insisted that the old N500 and N1000 notes remain legal tender.

Abiodun said: “The Ogun State Government will be revoking the certificate of occupancy of any corporation or store that rejects old Naira notes from members of the public in exchange for goods and services in the state.

“Commercial outlets are hereby reminded that there is an existing court order by the Supreme Court, the apex court in Nigeria, directing that old notes remain legal tender.”

Read also:2023: Abiodun proposes N472.2bn budget in Ogun

Governor Abiodun had also visited some banks in Abeokuta, the state capital, to address the naira scarcity in the state.

The Supreme Court on Wednesday upheld its February 8 order stopping the Federal Government and its agencies from enforcing the February 10 deadline on the use of old N200, N500, and N1000 notes.

However, in a national address on Thursday, President Muhammadu Buhari extended the validity of the old N200 notes till April 10.

He, however, said the old N500 and N1000 notes had ceased to be legal tender in Nigeria contrary to the order of the Supreme Court.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now