Governor Abdullahi Ganduje of Kano state has threatened to sanction banks and businesses rejecting the old naira notes.
The governor cited a Supreme Court interim injunction that allowed the use of old notes alongside new ones until the old ones are phased out.
Governor Ganduje said he noticed that some businesses are rejecting old notes, worsening the situation due to the lack of new notes.
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The governor emphasized that the old notes are still legal tender and that the government may revoke the licenses of businesses that do not comply.
“Business and economic activities are seriously affected by the naira redesign and unfortunately some self-centered individuals are cashing on the situation to cause further hardships on the people by not accepting the old naira notes during transactions,” the statement added.
He said the people have suffered enough untold hardship and therefore the state government would not fold its arms and allow a few selfish elements to worsen the situation.
The Governor called on the people in the state to continue with their lawful businesses and report anyone who refuses to accept the old naira notes to the appropriate quarters.