The Governor of Ondo State, Rotimi Akeredolu, has urged traders, and business owners in his state to accept the old N200, N500 and N1000 notes.
Akeredolu said this in a statewide broadcast in Akure, Ondo State, on Thursday. He said the rejection of the old naira notes was a flagrant disobedience of the law.
The governor noted that the rejection of the old notes would weaken the nation’s economy and cause great harm to local trade and business transactions.
“It is imperative that I address you today because of the need to halt a self-induced pain currently being experienced by us all in the state. This is on account of the circulation and use of the old naira notes in our economy.
“It is of great concern to me, 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 needless pain on their fellow citizens and customers.
“This is unfortunate and unexpected. It is a flagrant disobedience to the law and the Central Bank directives.
“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 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 needless tension over the matter. Please collect, spend and exchange the old notes without let or hindrance,” he said.
Akeredolu also 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.
The governor also commended Commercial Banks in the state for receiving and paying with the old notes.
He appealed to the Banks to increase the circulation of all currencies at their disposal and devise more effective ways to decongest the banks, especially at the ATM points.
Akeredolu urged media organisations in the state, traditional rulers and opinion moulders to assist the government in educating the people, especially at the grassroots, on the need to embrace and accept the old naira notes.
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