Sanwo-Olu Warns Against Rejection of Old Notes

Governor Babajide Sanwo-Olu, today, warned against the rejection of the old naira notes. The governor in a post on his verified Instagram account warned those rejecting the old notes to desist from doing so or face prosecution.

See press statement below

Dear Lagosians,

I hereby commend and applaud your patience and calmness, following the sad controversy generated by the Naira shortage crisis.

I would like to inform you that the Lagos 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. Therefore we 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.

I therefore plead with everyone to remain law-abiding, and shun mischief makers who may want to exploit this temporary situation to promote their anti-people agenda. I am 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 as I earlier promised, while the 50% fares slash on all State transportation services facilities continues.

Thank you all and God bless.