Reject Old Naira and Face Prosecution – Sanwo-Olu Warns

Governor Babajide Sanwo-Olu of Lagos State has issued a warning to people who continue to refuse old naira notes, saying they will be prosecuted if they do not stop.

It is against the Supreme Court’s stance, he stated, to reject the old N200, N500, and N1,000 notes.

This was announced by the governor on Wednesday in a statement released by Gbenga Omotoso, the commissioner of information and strategy.

Sanwo-warning Olu’s comes after the Supreme Court adjourned the lawsuit on the Central Bank of Nigeria’s (CBN) naira exchange policy until February 22 for hearing of the combined cases filed by ten states.

The statement read in part, “When the matter first came up on February 8, the apex court said the old notes remained legal tender.

“That position has not changed. The State Government 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.”

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