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PDP Gov who backed FG, CBN on Naira policy now begs residents to accept old N500, N1000 notes

PDP Gov who backed FG, CBN on Naira policy now begs residents to accept old N500, N1000 notes

The Edo State governor, Godwin Obaseki, has backtracked on his earlier stance that the old Naira notes should seize to be legal tenders in the country.

The state governor had initially joined the federal government as a co-defendant against Kaduna and some other state governments in a suit which urged the Supreme Court to nullify the February 10 deadline for old naira notes set by the Central Bank of Nigeria (CBN).

But in a statement on Thursday by the state Commissioner for Communication and Orientation, Chris Nehikhare, the Edo governor appealed to residents of the state to accept the old notes following the Supreme Court judgement that they remain legal tender till December 31, 2023.

The governor said the old notes should be accepted alongside the new ones to facilitate trade and boost economic activities.


“With the Supreme Court judgement, the controversy over the circulation of the notes have been put to rest and the people are urged to accept and trade with the notes.

“We are also exploring other means of transaction such as electronic transfers, among others, as all issues of cash available are addressed by the relevant government agencies,” he said.

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