Ogun to seal banks, stores rejecting old naira notes

Ogun State Governor, Dapo Abiodun, has threatened to seal banks, stores and supermarkets that refuse to accept the old N500 and N1,000 notes, saying he will deal with any trader or service provider that refuses to recognise the old notes as legal tender. The governor told residents of the state to call him whenever a […]

Ogun State Governor, Dapo Abiodun, has threatened to seal banks, stores and supermarkets that refuse to accept the old N500 and N1,000 notes, saying he will deal with any trader or service provider that refuses to recognise the old notes as legal tender.

The governor told residents of the state to call him whenever a bank or supermarket rejected the old notes, saying he would shut down the business centre.

Abiodun said, “I am hereby sounding a note of warning to every market, trader, petrol station, banker that is refusing the old naira notes; if you’re reported to me, I will deal with you with the fullest extent of the law.

“The Supreme Court of Nigeria is the highest court of the land. The Supreme Court has ruled that the old naira notes remain legal tender. The deadline has been moved to December 31.

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“I will lock up your shop if they tell me you don’t accept old notes. Anytime you take the old note to banks and they refuse to accept it, call me. I will lock up the doors of such banks, including supermarkets.

“You, transport unions and transporters, don’t reject the old money. If you take it to the bank and it is rejected, I will collect it from you and take it to the bank myself.”