EKO NEWS
Lagos Govt To Prosecute Anyone Rejecting Old Naira Notes – Sanwo-Olu
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Nigerians across the country, including in Lagos State, have been struggling to access naira notes for several weeks.
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The naira scarcity is due to the CBN’s naira redesign policy, which has been questionably executed.
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Lagos recently joined a Supreme Court suit against the federal government after the court ordered the old naira notes to remain the legal tender.
Eko Hot Blog reports that Lagos State Governor, Babajide Sanwo-Olu, has warned businesses in the state against rejecting the old naira notes.
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He noted that the Supreme Court order restraining the federal government from enforcing the February 10 deadline for phasing out old naira notes remain intact.
Although the Central Bank of Nigeria (CBN) has maintained that the old naira notes are no longer legal tender, the Lagos governor said it is unlawful to reject the old notes.
The old N200, N500, and N1000 notes
Sanwo-Olu also disclosed that the Lagos government has joined the dispute against the federal government at the Supreme Court, which on Wednesday adjourned the hearing on the matter till February 22.
“I hereby commend and applaud your patience and calmness, following the sad controversy generated by the Naira shortage crisis,” the governor said in a social media post on Wednesday.
“I would like to inform you that the Lagos State Government has joined the dispute at the Supreme Court, which today adjourned the hearing of the matter till February 22.
“When the matter first came up on February 8, the apex court said the old notes remained legal tender.
“That position has not changed. Therefore we hereby warn those rejecting the old notes to desist from doing so or face prosecution. It is against the law to reject the old notes, as doing so is contrary to the position of the Supreme Court.
“I plead with everyone to remain law-abiding, and shun mischief makers who may want to exploit this temporary situation to promote their anti-people agenda. I am confident that the Judiciary will resolve all the issues around the currency shortage crisis.
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“To cushion the effect of the Central Bank of Nigeria (CBN) directive on the old notes, especially on the vulnerable among us, Lagos State has started the distribution of the food packs as I earlier promised, while the 50% fares slash on all State transportation services facilities continues.”
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