Rejection Of Old Notes Disobedience To Law – Akeredolu

Oluwarotimi Akeredolu, the governor of Ondo State, referred to the rejection of old naira notes as flagrant disobedience to the law on Thursday.

This was revealed by the governor in a nationwide broadcast.
He bemoaned the state’s numerous traders and business owners’ rejection of outdated naira notes.
According to him, the country’s economy would suffer from the rejection of the old notes, which would also have a negative impact on local trade and business dealings.

According to ANAEDOONLINE.NG, the Supreme Court mandated that the country’s previous currency notes must continue to be accepted as lawful tender for the exchange of goods and services.

“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.

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“I, therefore, wish to inform you that the rejection of the old one thousand naira, five hundred naira and two-hundred-naira notes by us will do us no good. It will stifle our local trade and business transactions, weaken our economy and cause 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.

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