The governor cited a Supreme Court ruling that declared the old naira notes as legal tender, adding that the deadline for the acceptance of the old notes has been moved to December 31. He further stated that any trader, petrol station, or banker that refuses to accept the old notes will be dealt with accordingly.
Abiodun warned that he would lock up the shops of traders who refuse to accept old notes and will take similar action against banks and supermarkets. He also urged transport unions and transporters to accept old notes and promised to collect such notes and take them to the bank himself if they are rejected.
Reacting to the governor’s statement, some residents of the state commended the move, saying it would prevent traders and service providers from exploiting the people. They expressed hope that the governor would follow through with his threat and ensure that no one in the state is subjected to unnecessary hardship due to the rejection of old naira notes.
However, some traders have expressed reservations about the directive, saying they do not have the capacity to verify the authenticity of the old notes. They called on the government to provide them with machines that can detect counterfeit notes or issue a directive to banks to accept the old notes.
Meanwhile, the Central Bank of Nigeria (CBN) has warned Nigerians to desist from hoarding or defacing the naira, adding that it is a punishable offence. The CBN also urged the public to report anyone caught in the act to law enforcement agencies.
The CBN reiterated that the naira remains the legal tender in Nigeria and urged Nigerians to handle it with respect. The apex bank has also cautioned against the use of dirty or mutilated notes, adding that they should be exchanged for new ones at any bank.