Governor Abdullahi Ganduje of Kano state has threatened to sanction banks and businesses that refuse to accept old naira notes.
The governor cited a Supreme Court injunction that allowed the use of old notes alongside new ones until the old ones were phased out.
Governor Ganduje stated that he has seen some businesses reject old notes, exacerbating the shortage of new notes.
The governor stressed that the old notes are still legal tender and that businesses that fail to comply risk having their licenses revoked.
“Business and economic activities are seriously affected by the naira redesign and unfortunately some self-centered individuals are cashing on the situation to cause further hardships on the people by not accepting the old naira notes during transactions,” the statement added.
He stated that the people had already endured untold hardship and that the state government would not fold its arms and allow a few selfish elements to exacerbate the situation.
The Governor urged residents to carry on with their lawful businesses and to report anyone who refuses to accept old naira notes to the appropriate authorities.
