Lagos Vows to Prosecute Those Rejecting Old Naira Notes

By Modupe Gbadeyanka

The Lagos State government has threatened to prosecute any in the state rejecting the old Naira notes as legal tender.

A statement issued on Wednesday by the Commissioner for Information and Strategy, Mr Gbenga Omotoso, said the interim injunction granted by the Supreme Court on the Naira redesign policy of the Central Bank of Nigeria (CBN) means the old N200, N500, and N1,000 notes remain valid for transactions until next Wednesday when the matter comes up for hearing.

Last Wednesday, the apex court restrained the federal government from implementing the February 10 deadline on the validity of the old currency notes and fixed Wednesday, February 15, for a hearing. But today, the highest court in Nigeria adjourned the case till February 22.

Yesterday, the CBN Governor, Mr Godwin Emefiele, maintained that the old notes lost their legal tender status last Friday, forcing some Nigerians to reject the banknotes.

But Governor Babajide Sanwo-Olu of Lagos State has warned that anyone caught rejecting the money would be treated as a violator of a Supreme Court directive.

“The Lagos State Government wishes to put on record the patience and calmness of Lagosians following the controversy generated by the Naira shortage crisis.

“The state government has joined the dispute at the Supreme Court, which today adjourned the hearing of the matter till February 22. When the matter first came up on February 8, the apex court said the old notes remained legal tender.

“That position has not changed. The state government hereby warns those rejecting the old notes to desist from doing so or face prosecution. It is against the law to reject the old notes, as doing so is contrary to the position of the Supreme Court.

“Governor Sanwo-Olu urges Lagosians to remain law-abiding and shun mischief makers who may exploit this temporary situation to promote their anti-people agenda. He is confident that the judiciary will resolve all the issues around the currency shortage crisis.

“To cushion the effect of the Central Bank of Nigeria (CBN) directive on the old notes, especially on the vulnerable among us, Lagos State has started the distribution of the food packs promised by the Governor. The 50 per cent fares slash on all state transportation facilities continues, as directed by Mr Governor,” the statement said.