Sanwo-Olu cautions Lagos residents, businesses against rejecting old Naira notes, or face prosecution

Governor Babajide Sanwo-Olu of Lagos State on Wednesday cautioned anyone rejecting the old naira notes of N200, N500 and N1,000 denominations may be prosecuted by the state government.

Governor Sanwo-Olu in a statement by the Commissioner for Information and Strategy, Gbenga Omotoso on Wednesday, declared that the rejection of old N200, N500 and N1,000 notes is contrary to the order of the Supreme Court.

According to the statement, “When the matter first came up on February 8, the apex court said the old notes remained legal tender.

“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.”