Governor Rotimi Akeredolu of Ondo state has warned against rejection of Old Naira notes by banks in spite of a Supreme Court order which backs its use as a legal tender.
Speaking in a statewide broadcast on Thursday, March 9, Akeredolu said rejection of old naira notes is a flagrant disobedience to law, and might cause great harm and avoidable troubles.
Asides from appealing to residents of the state to embrace and accept the old notes alongside the new notes, he also urged commercial banks to increase the circulation of all currencies at their disposals and devise a more effective way to relieve congestion in the banks.
“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 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.
“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.”