Rejection of old naira notes is criminal offence— Gov. AbdulRazaq

Kwara State Governor AbdulRahman AbdulRazaq has asked residents of the state, especially marketers, to collect and spend the old and new naira notes as both are still legal tenders in the country.

The Governor’s spokesman, Rafiu Ajakaye, stated this in a statement issued on Tuesday.

ROYAL NEWS reports that in compliance to the Supreme Court judgement, the Governor of Central Bank of Nigeria, (CBN), Mr. Godwin Emefiele, on Monday night directed al banks to commence the collection and issuance of old and new naira notes until 31st December 2023.

According to the Governor: “ As per the judgment of the Supreme Court of Nigeria and the latest circular of the Central Bank of Nigeria (CBN), the old naira notes still remain a legal tender in the country. Banks are now officially issuing the old naira notes (including N500, N1000). I, therefore, urge all residents of our state to spend and receive both the old and the new naira notes,” according to a Kwara State Government House statement on Tuesday.

“This appeal especially goes to our marketers/traders. Further rejection of the old naira notes is in breach of the Supreme Court judgment. Such rejection is also inflicting economic pains on ourselves. Marketers, and indeed everyone in the state, can and should receive the old and new naira notes since commercial banks are now receiving the two. Citizens are to note that rejection of the legal tender, such as the old naira note, is a serious crime under our law.

“I also implore the banks to kindly extend every support within their powers to our people to ease all their transactions as things return to normal.”