Accept Old Naira or Face Sanctions, Government Tells Traders

 The Ekiti provincial government warned its citizens not to refuse old Naira notes as payment under the Supreme Court's ruling to avoid arrest or prosecution.



The Abia state government also threatened to impose sanctions on those who refuse the old banknotes. Ekiti governor Biodun Oyebanji issued the warning on Saturday in a statement by his special media adviser Yinka Oyebode.


Oyebanji says: We will start accepting old sheet music without delay.


"Failure to do so would defy the country's Supreme Court rulings and thwart the government's efforts to alleviate the plight of its people. The government does not hesitate to arrest and prosecute business owners who reject old naira notes.


"This is an appeal to all residents of Ekiti State to comply with the Supreme Court's ruling that granted respite to the people by extending the validity period of the old naira banknotes until December 31."


Same. On Saturday, the Abia state government threatened to sanction any person, group or entity that refuses to use the old 500 and 1,000 naira notes in commerce, according to Chris Ezem in a statement by the secretary of state. rice field.


Ezem said the decision was in line with a Supreme Court ruling in which he extended the validity of the old 200, 500 and 1000 Naira notes as legal tender until December 31.


he said: Any individual, group or entity that rejects old banknotes is in violation of Federal Republic of Nigeria law and risks facing sanctions. The state sought to comply with a Supreme Court ruling ordering the old bills to be circulated along with the new bills by a specified date.


This was announced on Saturday by the National Commissioner for Information, Orientation and Strategy, Aibina Duba.


He said that after some residents of the state capital Yenagoa peacefully protested against the refusal of old N1,000 and N500 banknotes by businesses, banks, gas stations, restaurants, merchants and shipping companies, the government announced that his 24 It is in a state that it has issued an ultimatum of time.


Duba said:



“The state government is not against the CBN or the federal government's naira conversion policy, but it is not satisfied with the way it is being implemented, creating further difficulties for the people of the state and indeed the country.” Meanwhile, residents of Osogbo, Osun State lament the inability to issue the old N500 and N1,000 denominations despite the Supreme Court ruling. 4,444 residents who spoke with the Nigeria News Agency on Saturday expressed joy at the verdict but disappointment when traders refused to accept the money. said he withdrew N10,000 old banknotes from the bank, but was disappointed when the dealer refused to recover the money from him.

Another resident, Ms Ayoade Usman, said she nearly got into a fight with some traders when they refused to accept money from her.

she said. This is money that the Supreme Court said will remain legal tender until December 31st, the same money that these merchants do not want to recover.

Similarly, some residents of Lagos expressed regret that the old man had N500, and from commercial banks he collected N1,000 banknotes.

Matthew Aburime, a student at the Lagos State Technical University in Ikorodu, told NAN that both the dealer and the professional bus driver declined the money.

He said: Then I went and got in line. In the end, I was able to withdraw N10,000 from the bank.

The money is still on hand as we speak.

Trader Daniel Okpulonu also complained: If you receive old banknotes, don't bother as it is unacceptable to take them back.

“While we are talking, I am still walking around looking for places to spend my money, all to no avail. You should tell us what you want.Since this policy started, Nigerians have suffered enough."

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