Govt threatens to seal banks, arrest people rejecting old notes

The Kogi State government has threatened to close banks, arrest and prosecute anyone who rejects the old naira notes for transactions in the state. This was disclosed in Lokoja on Friday in a statement signed and given to newsmen by the Commissioner for Information and Communications, Kingsley Femi Fanwo. The state government directed that those […]

The Kogi State government has threatened to close banks, arrest and prosecute anyone who rejects the old naira notes for transactions in the state.

This was disclosed in Lokoja on Friday in a statement signed and given to newsmen by the Commissioner for Information and Communications, Kingsley Femi Fanwo.

The state government directed that those rejecting old notes for business transactions in the state should be reported to the security agencies and government authorities for immediate action.

Also, the state government vowed to seal banks that refused to accept old naira deposits, saying: “The state government will not accommodate financial institutions that wilfully disobey court orders, more so, the orders of the highest court in Nigeria.”

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Kogi threatens to shut down banks rejecting old notes

“The reason the Kogi State government joined other state governments in the country to pursue the case was to ease the hardship occasioned by the unavailability of the new naira notes, which the court fully granted.”

Meanwhile, the Kogi State government has set up a high-powered committee to ensure full adherence and compliance to the ruling of the Supreme Court in the state.

Members of the committee include the Commissioner for Finance, Budget and Economic Planning; Commissioner for Information and Communications; Commissioner for Commerce and Industry; the State Security Adviser and the Managing Director and Kogi Enterprise Development Agency.