Akeredolu warns against rejection of old naira notes in Ondo
• Says it’s disobedience to law
• Vows to sanction perpetrators
Ondo State Governor, Oluwarotimi Akeredolu, yesterday, decried continued rejection of old naira notes by traders and business owners in various parts of the state.
He said the rejection of the old N1,000, N500 and N200 notes was a flagrant disobedience to the law, particularly since the apex court had ruled that the old currency notes must remain as legal tender in exchange of goods and services in the country till December 31, 2023.
In a statewide broadcast to de-escalate the tension in the state over the development, the governor said that rejecting the old naira notes would further inflict and sustain a needless pain on the people and businesses.
He appealed to the people to embrace and accept the old notes alongside the new notes as stipulated by law.
The governor, who also commended commercial banks within the state for receiving and paying with the old notes, urged the financial institutions to increase the circulation of all currencies at their disposals and devise a more effective way to decongest the banks, especially at the Automated Teller Machines (ATM) cash points.
He said: “It is therefore of great concern to me today that a large section of the people in the state, particularly traders in our markets, taxi and bus drivers, barbers, auto mechanics and artisans are rejecting the old naira notes, thereby inflicting and sustaining a needless pain on their fellow citizens and customers. This is unfortunate and unexpected. It is a flagrant disobedience to the law and the Central Bank of Nigeria (CBN) directives.
“I, therefore, wish to inform you that the rejection of the old naira notes will stifle local trade and business transactions, weaken the economy and cause us great harm and avoidable troubles.
“I hereby use this opportunity to appeal to you all, my good people of Ondo State, to embrace and accept the old notes alongside the new notes as stipulated by law. Let us not create a needless tension over the matter. Please collect, spend and exchange the old notes without let or hindrance.”
The governor, therefore, urged all media organisations in the state, as well as traditional rulers, community leaders and opinion molders, to assist the government in educating the people, especially at the grassroots, on the need to embrace and accept the old naira notes.