Kogi govt orders arrest of persons, businesses rejecting old naira notes

On Friday, the Kogi State Government ordered the arrest and prosecution of people and companies who refused to accept old naira notes.

A statement by the Commissioner for Information, Kingsley Fanwo, commended Nigerians on the "historic verdict of the Supreme Court".

The Supreme Court declared this week that both the old and new naira notes are legal tender until December 31, 2023.

On Friday, the Kogi State Government ordered the arrest and prosecution of people and companies who refused to accept outdated naira notes.

Fanwo added that the Yahaya Bello government joined other states in pursuing the lawsuit in order to alleviate the hardship caused by the lack of funds.

He deemed it intolerable that certain individuals and businesses continue to reject the old notes, notwithstanding the court's approval of their usage.

"Rejecting the old naira notes is clearly against the Supreme Court judgment," the commissioner emphasized.

"Security and government officials should be notified about anyone who refuses to accept the old naira notes for prompt action." Also, institutions that reject old Naira deposits must be shut down.

The government would not permit financial institutions "that intentionally disregard court rulings, more so the directives of the highest court in Nigeria," Fanwo said.

Banks must accept it because they are the ones issuing the old naira notes. After receiving independence from the Supreme Court, we cannot keep killing our economy.

A powerful committee would be formed, according to the statement, to guarantee complete adherence and compliance with the ruling.

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