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Sanwo-Olu to prosecute banks, commercial buses, others rejecting old naira notes

Lagos State Governor, Babajide Sanwo-Olu, has disclosed plans to go after commercial banks, bus operators, malls, and other businessmen for rejecting old N200, N500, and N1,000 notes across the state.

Sanwo-Olu said that businessmen, banks, malls, and others rejecting old notes from customers in the state amount to contempt of the Supreme Court and disobedience to the apex court’s directives that the currencies remain legal tender pending the conclusion of the case before it.

The governor, who has joined the suit against Federal Government’s Naira redesign and cashless policy, stressed that he would not allow disregard for the law in Lagos.

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In a statement by the Commissioner for Information and Strategy, Gbenga Omotoso, on Wednesday, he expressed confidence that the apex court would resolve all issues surrounding Naira shortage crisis.

According to the statement, “The Lagos State Government wishes to put on record the patience and calmness of Lagosians following the controversy generated by the Naira shortage crisis.

“The 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. 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.

“Sanwo-Olu urges Lagosians to remain law-abiding and shun mischief makers who may exploit this temporary situation to promote their anti-people agenda. He is 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 promised by the Governor. The 50% fares slash on all State transportation facilities continues, as directed by Mr. Governor”.

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About Victor Ojelabi

Ojelabi, the publisher of Freelanews, is a professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.

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One comment

  1. Your BRT buses too are culprit. They refuse to collect the old notes this morning for us to load our cards. Asofin nah larunfin

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