TheCable

The Lagos government has warned residents not to reject the old naira notes.

In a statement by Gbenga Omotoso, commissioner for information, the state commended residents for their patience.

“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,” the statement reads.

“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.

“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 is confident that the Judiciary will resolve all the issues around the currency shortage crisis.

“The 50% fares slash on all State transportation facilities continues, as directed by Mr. Governor.

“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.”

TheCable had reported that the Niger and Zamfara governments have also ordered the arrest of residents rejecting the old notes.

The supreme court had earlier restrained the federal government from enforcing the February 10 deadline for the validity of the old naira notes.

Abubakar Malami, attorney-general of the federation, had said the government would obey the court order but the Central Bank of Nigeria (CBN) insisted on the deadline.

On Wednesday, the supreme court restated that the old naira notes remain legal tender.