Babajide Sanwo-Olu, Governor of Lagos State, has warned those who reject old naira notes to stop or face prosecution.
He stated that the rejection of old ₦200, ₦500, and ₦1,000 notes is contrary to the Supreme Court’s position.
On Wednesday, the governor made this known in a statement signed by the Commissioner of Information and Strategy, Gbenga Omotoso.
Sanwo-warning Olu’s comes after the Supreme Court adjourned the case on the Central Bank of Nigeria’s (CBN) naira swap policy until February 22, 2023 to hear the consolidated suits filed by ten states.
The statement read in part, “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.”
