Akure, March 9, 2023 – Oluwarotimi Akeredolu, the Ondo State Governor, has appealed to residents in the state to accept old naira notes for transactions.
The Global Business News (GBN) reports that residents in the state were not receiving the old N500 and N1000 naira notes in spite of the Supreme Court’s ruling last Friday that the old notes were still legal tender.
Akeredolu made the appeal during a state-wide broadcast on Thursday morning, appealing that traders, artisans, transporters, farmers and everybody should accept the old notes for transactions as they were still backed by law.
”It is imperative that I address you today because of the need to halt a self-induced pain currently being experienced by us all in the state. This is on account of the circulation and use of the old naira notes in our economy.
“Credible information reaching me indicates that quite a large number of residents of the state are denied the use of the old currency notes issued by the Central bank of Nigeria.
“This development is unfortunate, undesirable and uncalled for.
“This is because the matter of legitimacy and return into circulation of all old naira notes in the nation’s economy has been settled permanently by the Supreme Court of Nigeria and also backed up by the appropriate instruments of implementation by the Central Bank of Nigeria.
“I, therefore, wish to inform you that the rejection of the old one thousand naira, five hundred naira and two-hundred-naira notes by us will do us no good.
“It will stifle our local trade and business transactions, weaken our economy and cause us great harm and avoidable troubles,” he said.
