JUST IN: NAIRA SCARCITY: Lagos Gov., Sanwo-Olu Warns Against Rejection Of Old Notes Says It's Against Law Of The Land And Contrary To Position Of Supreme Court

JUST IN: NAIRA SCARCITY: Lagos Gov., Sanwo-Olu Warns Against Rejection Of Old Notes Says It's Against Law Of The Land And Contrary To Position Of Supreme Court

Save Our Nation SON

February 15, 2023

 

 

Lagos State governor, Babajide Sanwo-Olu, has warned those rejecting the old Naira notes in the state to desist from doing so or face prosecution, saying that it was against the law of the land “to reject the old notes as doing so is contrary to the position of the Supreme Court.”

Governor Sanwo-Olu gave the warning in a statement issued by the State Commissioner for Information and Strategy, Mr. Gbenga Omotoso, noting that the position of the Apex court on the matter, which ruled that both new and Naira notes still be in circulation beyond the February 10, 2023 deadline placed by the Central Bank of Nigeria (CBN) had not changed.

This was just as the statement noted that the state government had joined the dispute occasioned by the Naira swap 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 tende

“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,” Sanwo-Olu said.

The governor, while noting the patience and calmness of Lagosians, following the controversy generated by the Naira shortage crisis, urged them “to remain law-abiding and shun mischief makers who may exploit this temporary situation to promote their anti-people agenda, expressing confidence that the Judiciary would resolve all the issues around the currency shortage crisis.

Governor Sanwo-Olu, however, said his government, had started the distribution of the food packs, and the 50per cent fares slash on all state transportation facilities to “cushion the effect of the Central Bank of Nigeria (CBN) directive on the old notes, especially on the vulnerable among us.”