Naira policy: KGSG threaten to arrest, prosecute persons, business that rejects old currency

…says banks that disobey supreme court order will be sealed

The Kogi State Government has threatened persons and businesses that rejects the old Naira Notes of #500 and #1,000 denomination stressing that such act was unacceptable even after the court judgement validating their use.

In a press statement signed by the Commissioner for Information and communication, Kingsley Fanwo he said that rejecting the old naira notes is a clear disobedience of the Supreme Court ruling.

He said “Anyone who rejects the old naira notes should be reported to security and government authorities for immediate action. Also, banks that refuse to accept old naira deposits shall be sealed as the State Government will not accommodate financial institutions that willfully disobey court orders”.

The commissioner said that the reason why the Kogi State Government joined other State Governments in the country to pursue the case was to ease the hardship occasioned by the unavailability of the new naira notes, which the court fully granted.

“Kogites should note that since the banks are issuing the old naira notes, they are bound to also receive it. We cannot continue to kill our economy after the Supreme Court has granted us freedom. The State Government has therefore set up a high-powered Committee to ensure full adherence and compliance to the ruling of the Supreme Court” he added

Mr. Fanwo listed members of the Committee to include the Commissioner for Finance, Budget and Economic Planning; Commissioner for Information and Communications; Commissioner for Commerce and Industry; the State Security Adviser and the Managing Director, Kogi Enterprise Development Agency.

He said that the Committee was to ensure that the people gets full benefits of the Supreme Court ruling on the old naira notes and ease the hardship they have been subjected to by the policy that brought so much hardship to the people.