Economy And Business

BREAKING: Government Orders Arrest of Nigerians Rejecting Old Naira Notes

Advertisement
Advertisement

Government has ordered the arrest of Nigerians rejecting old Naira notes.

 

NewsOnline reports that the Kogi State Government on Friday ordered the arrest and prosecution of individuals and businesses rejecting the old naira notes.

 

A statement by Commissioner for Information, Kingsley Fanwo congratulated Nigerians on the “historic ruling of the Supreme Court”.

 

The apex court last week ruled that both the old and new naira notes remain legal tenders until December 31, 2023.

ALSO: Court Approves INEC Request To Reconfigure BVAS

 

Fanwo explained that the Yahaya Bello administration joined other states to pursue the case to ease the hardship occasioned by the unavailability of cash.

 

He said it was unacceptable that some persons and businesses continue to reject the old notes, even after the court validated their use.

“Rejecting the old naira notes is a clear disobedience of the Supreme Court ruling,” the commissioner stressed.

 

“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.”

 

Fanwo warned that the government will not accommodate financial institutions “that willfully disobey court orders, moreso, the orders of the highest court in Nigeria”.

 

“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 statement announced the establishment of a high-powered committee to ensure full adherence and compliance to the verdict.

Advertisement
NewsOnline Nigeria

Recent Posts

  • Crime Watch

BREAKING: Popular Catholic Priest Kidnapped In South East (PHOTOS)

A popular Catholic Priest has been kidnapped in the South East.   NewsOnline Nigeria reports…

1 day ago
  • Top Stories

UK Conservative Party Leader Kemi Badenoch Snubs Tinubu Government

UK Conservative Party Leader Kemi Badenoch has reportedly snubbed the Tinubu Government.   NewsOnline Nigeria…

1 day ago
  • Economy And Business
  • Headline

BREAKING: Dangote, Marketers Fight Dirty Over Plots To Monopolize Oil Sector

Dangote and marketers fight dirty over alleged plots to monopolize the oil sector.   NewsOnline…

1 day ago
  • Exchange Rates

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 7th November 2024

The black market dollar to Naira exchange rate on Thursday 7th November 2024 can be…

1 day ago
  • Economy And Business
  • Headline

BREAKING: Father Mbaka Breaks Silence Over Famine, High Cost Of Living

Father Mbaka has reacted to the famine and high living costs in Nigeria.   NewsOnline…

1 day ago
  • Headline
  • World

BREAKING: President Trump Vows To Carry Out Largest Deportation In History

President Trump has vowed to carry out the largest deportation in history from his first…

1 day ago