Again, CBN snubs Supreme Court, Sanwo-Olu warns Lagosians against rejection of old Naira notes

 

 

 

By allcitynews.ng

 

 

Following the confusion created by the leadership of Central Bank of Nigeria (CBN) with Supreme Court judgement, Lagos State Governor, Mr Babajide Sanwo-Olu has called on people within Lagos State to continue in using the old Naira notes, noting old notes are still legal tender within the state.

Though CBN in defiance of Supreme Court has set up Portal for collection of old Naira notes, Sanwo-Olu warns Lagos residents against rejection of old Naira notes.

He vowed that those who reject old notes will be prosecuted.


The Governor, in a statement on Wednesday by Commissioner for Information and Strategy Gbenga Omotoso, said: “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.

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.”

To cushion the effect of the Central Bank of Nigeria (CBN) directive on the old notes, especially on the vulnerable among us, he informed Lagos State has started the distribution of the food packs promised by the Governor.

He said the 50 per cent fares slash on all state transportation facilities as directed by Governor also subsists.

Moreover he said that “Lagos State Government wishes to put on record the patience and calmness of Lagosians following the controversy generated by the Naira shortage crisis.”

He explained that the State Government joined the dispute at the Supreme Court, which on 15 February 2023 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.

According to Gbenga Omotoso, “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.”

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.

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

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