GOVERNOR of Kogi State Yahaya Bello has threatened to arrest residents rejecting old naira notes.
This was contained in a statement by the Commissioner for Information Kingsley Fanwo on Friday, March 10.
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Bello described rejecting the old notes as an act of disobedience to the Supreme Court judgment, which would be resisted by his government.
“Anyone who rejects the old naira notes should be reported to the security and government authorities for immediate arrest and prosecution.
“Also, banks that refuse to accept old naira deposits shall be sealed up as the state government will not accommodate financial institutions that willfully disobey court orders, moreso, the orders of the highest court in Nigeria, ” Bello noted.
He also noted that a committee would be set up to ensure strict compliance to the court’s ruling.
The Supreme Court on Friday March 3, had nullified the Federal Government’s naira redesign policy and declared the old N1000, N500 and N200 notes are valid till December 31, 2023.
The court ruled that although Nigerian president Muhammadu Buhari had the authority to act as the federation’s executive, he was still required to give the federating units adequate notice before implementing the new monetary policy through the Central Bank of Nigeria (CBN).
Ijeoma Opara is a journalist with The ICIR. Reach her via [email protected] or @ije_le on Twitter.