Akeredolu urges Nigerians to accept old naira notes

Ondo State Governor, Oluwarotimi Akeredolu has appealed to the people to embrace and accept the old notes alongside the new notes as stipulated by law.

Governor Akeredolu in a statewide broadcast on Thursday said the rejection of the old one-thousand naira, five hundred naira and two-hundred-naira notes is flagrant disobedience to the law.

He noted that the matter of legitimacy and return into circulation of all old naira notes in the nation’s economy has been settled permanently by the Supreme Court of Nigeria.

According to the Governor, the Apex Court had ruled that the old currency notes must remain as legal tender in exchange of goods and services in the nation.

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The Governor also commended Commercial Banks within the State for receiving and paying with the old notes.

He appealed to the Banks to increase the circulation of all currencies at their disposals and devise a more effective way to decongest the banks, especially at the ATM cash points.

“I, therefore, wish to inform you that the rejection of the old one thousand naira, five hundred naira and two-hundred-naira 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.

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“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 a needless tension over the matter. Please collect, spend and exchange the old notes without any hindrance.” He said.

The Governor urged all media organizations in the state, as well as all traditional rulers, community leaders and opinion molders to assist the Government in educating the people, especially at the grassroots on the need to embrace and accept the old naira notes.