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BREAKING: Government orders arrest of persons, businesses rejecting old Naira notes

BREAKING: Government orders arrest of persons, businesses rejecting old Naira notes

The Kogi State Government has ordered policemen to arrest and prosecute individuals and business owners rejecting the old naira notes in the state.

This was contained in a statement issued on Friday by the state Commissioner for Information, Kingsley Fanwo.

The state government noted that with the victory recorded at the Supreme Court last week, which ruled that both the old and new naira notes remain legal tenders until December 31, 2023, it will be criminal for anyone in the state to still reject the old notes.

The government said:
“Rejecting the old naira notes is a clear disobedience of the Supreme Court ruling.


“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.”

The Kogi government further warned that it will not tolerate any financial institution “that willfully disobey court orders, moreso, the orders of the highest court in Nigeria” in the state.

“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 government stated.

It further announced that a high-powered committee has been established to ensure full adherence and compliance to the verdict.

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