Governor Akeredolu has urged traders to accept the old N500 and N1000 notes.
Glamtush reports that Governor Rotimi Akeredolu of Ondo State on Thursday urged traders in his state to accept the old N200, N500 and N1000 notes.
This online platform understands that Akeredolu said this while decrying the rejection of old naira notes by business owners and traders in Ondo.
In a statewide broadcast in Akure, the governor said the rejection of the old naira notes currency was a flagrant disobedience of the law.
“It is therefore of great concern to me today, that a large section of our people in the state, particularly traders in our markets, taxi and bus drivers, barbers, auto mechanics and artisans are rejecting the old naira notes thereby inflicting and sustaining a needless pain on their fellow citizens and customers.
“I, therefore, wish to inform you that the rejection of the old N1000, N500 and N200 notes by us will do us no good. It will stifle our local trade and business transactions, weaken our economy and ca use us great harm and avoidable troubles,” he said.
He appealed to commercial banks to increase the circulation of all currencies at their disposals and devise a more effective way to relieve congestion in the banks.
He urged residents of the state to embrace and accept the old notes alongside the new notes as stipulated by law.
“I hereby use this opportunity to appeal to you all, my good people of Ondo state, to embrace and accept the old notes alongside the new notes as stipulated by law. Let us not create a needless tension over the matter. Please collect, spend and exchange the old notes without let or hindrance,” he added.
Akeredolu noted that the Supreme Court has ruled that the old naira notes must continue as legal tender.
The Supreme Court had recently extended the validity of the old Naira notes till 31 December.
The apex court disclosed that the Central Bank of Nigeria, CBN, must continue to receive the old naira notes from Nigerians.
