Kogi Vows To Seal Off Banks That Refuses Old Naira As Deposits

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From Noah Ocheni, Lokoja

The Kogi state government on Friday in Lokoja vowed to seal off any commercial banks that refuses to accept old Naira notes as deposit from customers.

In a statement signed by the state commissioner for information and communication, Kingsley Fanwo said since the banks are issuing the old naira notes, they are bound to also receive it adding, “We cannot continue to kill our economy after the Supreme Court has granted us freedom.”

“The State Government will not accommodate financial institutions that willfully disobey court orders, more so, the orders of the highest court in Nigeria.” he said.

Fanwo further promised to arrest and prosecute anybody who refuses to collect the old Naira notes business transaction or services rendered would be arrested and prosecuted .

.”The reason the Kogi State Government joined other State Governments in the country to pursue the case was to ease the hardship occasioned by the unavailability of the new naira notes, which the court fully granted”.

“It is therefore unacceptable that some persons and businesses will continue to reject the use of the old naira notes, even after the court judgement validating their use. Rejecting the old naira notes is a clear disobedience of the Supreme Court ruling.”

The commissioner warned that Anyone who rejects the old naira notes should be reported to security and government authorities for immediate action.

“According to the Supreme Court ruling, Both the old and new naira notes can be accepted for the purpose of transacting business till the end of this year.”

To this end, He said the State Government has therefore set up a high-powered Committee to ensure full adherence and compliance to the ruling of the Supreme Court.

According to the release, Members of the Committee are the Commissioner for Finance, Budget and Economic Planning; Commissioner for Information and Communications; Commissioner for Commerce and Industry; the State Security Adviser and the Managing Director and Kogi Enterprise Development Agency.

“The Committee is to ensure that people take full benefits of the Supreme Court ruling on the old naira notes and ease the hardship they have been subjected.” He said.


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