Naira Scarcity: Sanwo-Olu Warns Lagosians Against Rejecting Old Notes


Governor Babajide Sanwo-Olu of Lagos State has cautioned people of the state against rejecting the old Naira notes.

Sanwo-Olu threatened to prosecute those who reject the old naira notes.

He warned that rejecting the old naira notes was against the ruling of the Supreme Court.

The governor’s warning was contained in a statement issued by the State Commissioner for Information and Strategy, Gbenga Omotoso.

He said the Supreme Court’s ruling that both the new and old Naira notes still be in circulation beyond the February 10, 2023 deadline placed by the Central Bank of Nigeria (CBN) had not changed.

“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,” Sanwo-Olu said.

Governors of Kaduna, Zamfara and Kogi, Lagos, Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo, and Sokoto states had dragged the Federal Government and the CBN to the Supreme Court over the time limit for the swap of the naira.

The apex court had given an interim order suspending the February 10 deadline.

On Wednesday, the apex court adjourned the matter.


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