Old Naira Notes: Trouble as Dapo Abiodun Threatens to Close Banks, Businesses Over Rejection

Old Naira Notes: Trouble as Dapo Abiodun Threatens to Close Banks, Businesses Over Rejection

  • Commercial banks and business owners rejecting the old naira notes in Ogun state are in for a stiff sanction
  • The governor of the state, Dapo Abiodun, has said any bank or businessmen or women rejecting old notes would be shut down by his government
  • According to the governor, it is imperative to allow the use of the old notes to alleviate the sufferings faced by the people due to the scarcity of the new naira notes

The governor of Ogun state, Dapo Abiodun, has issued a warning to commercial banks rejecting the old naira notes from customers and residents in the state.

Daily Trust reports that Abiodun said his administration would shut down any commercial bank involved in such activity.

Dapo Abiodun, Ogun state, old naira notes, Central Bank of Nigeria, CBN, new naira notes
Governor Abiodun has threatened to shut down banks and businesses rejecting the old naira notes. Photo: Vanguard, Dapo Abiodun
Source: UGC

Reacting to reports of the rejection of old notes as legal tender by some commercial banks and business owners in the state, Abiodun warned that his government would not tolerate such in the state.

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Nigerian Governor threatens to licenses of businesses, banks rejecting old naira notes

The rejection of the old naira notes by most business owners followed the expiration of the February 10 deadline given by the Central Bank of Nigeria.

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Legit.ng gathers that the deadline expiration takes effect in some areas despite the Supreme Court order.

However, while addressing market men and women at Itoku Kampala market in Abeokuta as part of his re-election campaign, Abiodun, who frowned at the action of the banks, said since the new naira notes are not available to residents, the old notes must be accepted to ease the challenges faced by the people.

The Punch reports that the governor also urged residents of Ogun state to remain calm while the government works to ensure that everything is brought under control.

Naira swap: Former lawmaker exposes politicians, explains why some are calling for extension of CBN's deadline

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APC governor disagrees with Emefiele, reveals what he will do to banks, others rejecting old Naira notes

A former lawmaker, Shehu Sani, has alleged that some top politicians and those contesting for various positions in the forthcoming election want to be involved in vote-buying.

Sani, the lawmaker who represented Kaduna central in the Eighth Senate, said these unnamed politicians want to buy votes with old notes.

Reacting to the Supreme Court Ruling, which suspended the February 10 deadline for the Central Bank of Nigeria's new money policy implementation, the activist it is the only available reason for a push for an extension.

Naira scarcity: CBN Governor Emefiele begs Nigerians to be calm

Nigerians have been urged to remain calm and patient with the transition phase of the new naira notes.

The plea was made by the governor of the Central Bank of Nigeria, Godwin Emefiele, following the challenges faced by Nigerians in accessing the naira notes.

Godwin Emefiele said hiccups are always expected in situations like this but will surely be overcomed.

Source: Legit.ng

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