Kogi government issues arrest warrants to companies that refuse to accept outdated naira notes

The Kogi State Government ordered the arrest and punishment of people and companies on Friday who refused to accept the outdated naira notes.

Nigerians were congratulated on the “historic verdict of the Supreme Court” in a statement by Commissioner for Information Kingsley Fanwo.

The old and new naira notes are still legal money till December 31, 2023, according to a decision made by the highest court last week.

According to Fanwo, the Yahaya Bello government joined other states in pursuing the lawsuit to lessen the suffering brought on by the lack of funding.

Even after the court approved their usage, he said it was intolerable that some people and companies still refused to accept the old notes.

The commissioner insisted, “Rejecting the old naira notes is a blatant violation of the Supreme Court order.

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“Security and government officials should be notified about anyone who refuses to accept the old naira notes for prompt action. Also, institutions that reject old naira deposits must be shut.

The government would not permit financial institutions “that intentionally disregard court rulings, more so, the directives of the highest court in Nigeria,” Fanwo said.

Banks must accept it because they are the ones issuing the old naira notes. After receiving independence from the Supreme Court, we cannot keep killing our economy.

A powerful committee would be formed, according to the statement, to guarantee complete adherence and compliance with the ruling.