Naira Swap: Sanwo-Olu Finally Reveals Position On New CBN Policy, Cautions Traders, Banks

Naira Swap: Sanwo-Olu Finally Reveals Position On New CBN Policy, Cautions Traders, Banks

  • The governor of Lagos state, Babajide Sanwo-Olu, has said business owners and cautioned the people of the state to stop rejecting the old naira notes
  • Sanwo-Olu also announced that the state has joined in the suit challenging the federal government naira redesign policy at the supreme court
  • According to the governor, some mischieve makers are trying the explore the effect of the CBN naira redesign policy to cause havoc in the state while urging the people to remain calm

Ikeja, Lagos - Babajide Sanwo-Olu, the Lagos state governor, has announced that the state has joined the list of states challenging the decision of the federal government's naira redesign policy.

The governor, who took to his Facebook page on Wednesday, February 15, also warned traders and banks against rejecting the old notes in the state.

Babajide Sanwo-Olu/Lagos/CBN/Naira Redesign/2023 Election/Naira scarcity
Lagos joined suit challenging FG's naira redesign policy Photo Credit: Babajide Sanwo-Olu
Source: UGC

Sanwo-Olu reminded the people of the state that the supreme court ruling on February 8 has not changed, urging the residents in the state to obey the court order.

Latest about Lagos, Babajide Sanwo-Olu, CBN, naira scarcity, naira redesign, 2023 election

He said:

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"We hereby warns 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."

He maintained that some mischieve makers are trying to explore the current situation in the country to cause mayhem in the state. Therefore, the people of the state must maintain decorum.

The governor added that the state had made move to relieve the people, especially the vulnerable ones, from the effect of the Central Bank of Nigeria (CBN) naira redesign policy by distributing food packs to the less privileged and slashed the transportation fare by 50%.

Tension as gunmen shot prominent PDP chieftain's aide in powerful APC state earlier reported that Toyin Adeniji, an aide of a prominent PDP chieftain in Agege area of Lagos, has been shot dead by unknown gunmen.

Adeniji, who is a 47-year-old APC loyalist, was reportedly shot by some suspected cultists in front of his house in the Oyewole area of Agege local government.

Though the police have commenced investigation into the killing, the PDP loyalist was killed in Lagos, a state considered the stronghold of the APC state and ahead of election.


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