Kogi Gov. Yahaya Bello has sounded a note of warning to banks which reject old notes in the state that they will be sealed off.
Bello said in a statement by the Commissioner for Information, Mr Kingsley Fanwo, that “it is unacceptable that persons and businesses continue to reject the old currency after the Supreme Court ruling.”
Persecondnews recalls that nine days after the Supreme Court judgment on the Naira redesign policy of the Federal Government and the Central Bank of Nigeria, both President Muhammadu Buhari and the CBN Gov. Godwin Emefiele have yet to comply with the apex court’s ruling that the old notes should remain as legal tender until December 31 2023.
On March 3, 2023, the court had ordered that the old N200, N500 and N1000 notes should remain in circulation until December 31.
The apex court described the policy as an affront to the 1999 constitution and that it has led to some people engaging in “trade by barter in this modern age all in a bid to survive.”
Bello, however, pointed out that the essence of the state joining the suit challenging the Federal Government and the CBN was to ease the suffering of Kogi residents.
“Also, banks that refuse to accept old naira deposits shall be sealed as the State Government will not accommodate financial institutions that willfully disobey court orders, more so, the orders of the highest court in Nigeria,” governor said.