Ganduje threatens to sanction banks, business owners rejecting old naira notes

Kano State government has warned that it would not hesitate to revoke operational licenses of major business owners or sanction anyone who refuses to accept the old naira notes as a means of transaction.

However, the Central Bank of Nigeria (CBN) has declared that the old Naira notes, the redesigned notes of N200, N500 and N1,000 cease to be illegal tender since February 10^th deadline.

But according to a press statement from the state commissioner for information, Comrade Muhammad Garba, and made available on Tuesday in Kano, Governor Ganduje was quoted saying that the old naira notes are still legal tender.

The governor called on the people in the state to continue with their lawful businesses and report anyone who refuse to accept the old naira notes to the appropriate quarters.

The governor noted that it has come to the notice of the government that some business owners such as supermarkets, malls, banks, restaurants, hotels, traders in markets, filling stations, motor parks, among others are in the habit of rejecting the old naira notes in business transaction.

According to him,”the Supreme Court was emphatic on its interim injunction on the issue of old naira notes which would continue to be used as legal tender hand in hand with the new ones until gradual and final phase out.”

Ganduje further observed that non-acceptance by some selfish individuals is further worsening the already tensed situation exacerbated by the non-availability of the new naira notes.

“Business and economic activities are seriously affected by the naira redesign and unfortunately some self-centered individuals are cashing on the situation to cause further hardships on the people by not accepting the old naira notes during transactions,” the statement added.

He added that the people have suffered enough untold hardship and therefore the state government would not fold its arms and allow few selfish elements in our midst to worsen the situation.

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