LASG Threatens To Prosecute Institutions, Individuals  Rejecting Old Naira Notes

…As Lagos Govt Joins Case In Supreme Court Against FG

 

Lagos State Governor, Mr Babajide Sanwo-Olu has threatened that the state government will not hesitate to prosecute any institution or individual that rejects the old naira notes.

According to a statement on Wednesday , Sanwo-Olu, in an address to Lagos residents, said rejecting the old naira notes is against the position of the law as it remains legal tender.

He also informed residents that the state government has now joined the suit filed before the Supreme Court against the Federal Government on the currency redesign policy of the Central Bank of Nigeria.

 

The Governor’s full statement:

 

Dear Lagosians,

I hereby commend and applaud your patience and calmness, following the sad controversy generated by the Naira shortage crisis.

I would like to inform you that the Lagos State Government has joined the dispute at the Supreme Court, which today adjourned the hearing of the matter till February 22.

When the matter first came up on February 8, the apex court said the old notes remained legal tender.

That position has not changed. Therefore we hereby warn 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.

I plead with everyone to remain law-abiding, and shun mischief makers who may want to exploit this temporary situation to promote their anti-people agenda. I am confident that the Judiciary will resolve all the issues around the currency shortage crisis.

To cushion the effect of the Central Bank of Nigeria (CBN) directive on the old notes, especially on the vulnerable among us, Lagos State has started the distribution of the food packs as I earlier promised, while the 50% fares slash on all State transportation services facilities continues.

 

Thank you all and God bless.