Gov Sanwo-Olu warns against rejection of old naira notes

The Lagos State Governor, Mr Babajide Sanwo-Olu, has warned the Lagos residents against the rejection of old naira notes.

Sanwo-Olu issued the warning in a statement signed by HC, Information and Strategy, Gbenga Omotoso, on Wednesday February 15, 2023.

The governor appreciated Lagosians for their patience and calmness despite 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, the statement read.

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

Governor Sanwo-Olu reiterated that the position has not changed.

The state government warns those rejecting the old notes to desist from doing so or face prosecution,” adding that “It is against the law to reject the old notes as doing so is contrary to the position of the Supreme Court.”

Governor 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 expressed confidence 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,” the statement concluded.