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Like Kogi, Ekiti to arrest residents rejecting old naira notes

March 11
16:40 2023

The Ekiti state government has appealed to residents of the state to accept the old N1000 and N500 noted in compliance with the ruling of the supreme court. 

Last week, the apex court ruled that the old N200, N500, and N1,000 notes remain legal tender until December 31, 2023.

Following the judgment, checks by TheCable showed that some commercial banks across the country started issuing old naira notes to customers.

However, some businesses and persons have refused to transact with the old notes.


In a statement issued by Yinka Olubode, special adviser on media to Biodun Oyebanji, Ekiti governor, the state government urged the people to stop creating hardship for themselves and accept the reprieve that came with the supreme court ruling.

The governor said refusal to accept the old naira notes for transactions was unlawful and that anyone found culpable will be arrested and prosecuted.

“This is an appeal to all residents of Ekiti to abide by the ruling of the supreme court, which has provided a reprieve for the people by extending the validity date of the old naira notes till December 31,” Olubode said.


“As honourable people, what is expected of us is to abide by the ruling of the apex court and continue to accept the old naira notes as means of transactions and not to inflict further hardship on one another by rejecting it.

“Government will not hesitate to arrest and prosecute business owners found rejecting the old naira notes.”

The state government also urged the commercial banks and the Central Bank of Nigeria (CBN) to make the old and new currencies available in their branches and at their Automated Teller Machines (ATM) points in order to ease the stress residents go through to access cash.

The Kogi state government had also threatened to arrest and prosecute persons and businesses rejecting the old naira notes.


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