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Lagos State Government Warns Against Rejecting Old Naira Notes



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The Lagos State Government, led by Governor Babajide Sanwo-Olu, has issued a stern warning to anyone rejecting old naira notes as legal tender.

The government has vowed to prosecute anyone found guilty of this act across the state. News About Nigeria (NAN) understands that the move comes in response to the controversy generated by the naira shortage crisis and the ongoing legal battle at the Supreme Court over the issue.

In a statement released by the state’s Commissioner for Information and Strategy, Gbenga Omotoso, the governor emphasized that the old N200, N500, and N1,000 notes are still legal tender until the Supreme Court rules on the matter. The governor called on Lagosians to remain calm and law-abiding, and to desist from promoting anti-people agendas.

The statement also outlined measures taken by the state government to cushion the impact of the Central Bank of Nigeria‘s directive on the old notes, particularly on the vulnerable members of society. These measures include the distribution of food packs promised by the governor and a 50% fare slash on all state transportation facilities.

The Lagos State Government’s warning is a timely reminder that the use of legal tender is a fundamental aspect of the country’s financial system, and that any attempt to undermine it can have severe consequences. It is also a testament to the government’s commitment to promoting the rule of law and protecting the interests of its citizens.

The Lagos State Government’s warning against the rejection of old naira notes is a clear message to anyone who may seek to exploit the current situation to promote their interests. It is a call to all Lagosians to remain law-abiding and to work together to find a lasting solution to the naira shortage crisis.