Abiodun Threatens To Shut Banks Over Old Notes Rejection

Governor Abiodun warns that refusing the old notes could see commercial banks being shutdown.


Governor Dapo Abiodun has warned all commercial banks in Ogun State against refusing to accept old Naira notes from citizens. 

In a brief statement on his official Twitter page, the governor warned that any commercial bank that refuses to accept the old notes, stands the chance of being shut down by the state government.

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Governor Abiodun’s comments come shortly after the Supreme Court of Nigeria adjourned the case on the naira swap policy of the Central Bank of Nigeria (CBN) till Wednesday, February 22 for hearing of the consolidated suits by 10 states.

The apex court, which heard the case on Wednesday, was filled to capacity with a retinue of Senior Advocates of Nigeria, other lawyers and the governors of Kaduna and Kogi states, Nasir El-Rufai and Yahaya Bello, respectively.

The court joined Katsina, Lagos, Cross Rivers, Ogun, Ondo, Ekiti, and Sokoto States as co-plaintiffs in the suit challenging the Naira Redesign policy of the Federal Government.

The various state governments had, through their attorneys general, applied to be joined in the suit.

Similarly, the apex court joined Edo and Bayelsa states in support of the Federal Government on implementation of the naira swap policy.

The six states in their respective motions for joinder pitched their tents with the three aggrieved states, Kaduna, Zamfara, and Kogi states that initially ignited the suit.

At the last hearing, the court had temporarily banned the implementation of the February 10 deadline of the CBN from making the old N200, N500 and N1,000 notes legal tender.

The Zamfara, Kogi and Kaduna states had instituted the suit against the Federal Government and the CBN.

Justice John Okoro leading a seven-man panel said the court should not lose sight of the case and its intention as it affects the suffering of Nigerians.

Speaking after the session, Governor Bello told newsmen that he and El-Rufai were present to ensure that justice is obtained for the masses who are suffering the brunt of the policy at this time.

“We are in court because Nigerians are suffering as a result of this CBN muddled-up cashless versus currency redesign policy, that is why we are here today,” the governor asserted.

Governor Bello also disclosed that the understanding from court proceedings today suggest that the order made by the honorable justices still subsists up till Wednesday February 22 when the matter will be heard.

This he said in reference to an injunction by the court, temporarily banning the implementation of the February 10 deadline of the CBN from making the old N200, N500 and N1,000 notes legal tender.

Bello on behalf of his colleagues urged Nigerians to stay alive by maintaining peace, law and order, adding that by killing each other, nothing will be achieved as regards changing the policy to suit everyone and easy the sufferings being encountered at this time