Gov. AbdulRazaq reacts to naira crisis, says rejection of old notes serious crime

The Governor of Kwara State, AbdulRahman AbdulRazaq has warned Nigerian people not to reject the old naira notes, as the rejection of the notes is a criminal offence.

The Governor appealed to Kwarans, especially business persons and traders to accept and transact with both old and new naira notes as they are legal tender in Nigeria.

He made this revelation in a statement released in Ilorin on Tuesday March 14 by his spokesperson, Mr Rafiu Ajakaye.

The statement partly reads: “Banks are now officially issuing the old naira notes (including N500 and N1,000).

“This appeal especially goes to our marketers/traders. Further rejection of the old Naira notes is in breach of the Supreme Court judgment.

“Citizens are to note that rejection of the legal tender, such as the old naira note, is a serious crime under our law.”

As earlier reported by The Informant247, President Muhammadu Buhari has said that the Central Bank of Nigeria (CBN) does not need his order before it would obey the judgement of the Supreme Court.

The president on Monday, March 13 said the CBN does not need his consent before it would follow the directive of the apex court.

This was revealed in a statement released by a presidential media aide, Malam Garba Shehu.

The presidential spokesperson said the Nigerian leader did not sponsor the Governor of CBN, Godwin Emefiele and the Attorney General of the federation, Abubakar Malami to disobey order of the Supreme Court.

The Central Bank of Nigeria (CBN) has declared the old naira notes N200, N500 and N1000 legal tender until December 31, 2023.

This was revealed by the spokesperson of the apex bank, Isa Abdulmumin, CBN spokesperson in a statement on Monday, March 13, 2023.