Governor Sanwo-Olu warns banks and businesses who are rejecting the old naira note.
The Governor of lagos Babajide Sanwo-Olu has stated that the Lagos government will shut down any bank, organization or business that rejects old Notes.
He declared that any business which operates in the state will be sanctioned heavily if they reject the old naira note since it has been declared as legal tender till the end of the year.
Remember that recently, the Supreme Court declared the old not to be legal tender till 31st of December and ever since then some banks began to dispense the old naira notes.
However, some traders refused to accept this money and the banks were also not accepting the deposit of the money they had dispensed.
The Governor has thereby instructed organizations and people to accept the old naira notes.
He mentioned that they should be free to use this money for their transactions since it is still legal.
He also noted the difficulties and struggles people have gone through during the period of the naira scarcity. And so he gave these orders
He mentioned that there would be monitoring of this and anyone who refuses to accept this money should be reported and such organizations or branches of the bank will be shut down.
Anyone rejecting these notes will be heavily sanctioned as we kick off monitoring.
The Governor of lagos Babajide Sanwo-Olu has stated that the Lagos government will shut down any bank, organization or business that rejects old Notes.
He declared that any business which operates in the state will be sanctioned heavily if they reject the old naira note since it has been declared as legal tender till the end of the year.
Remember that recently, the Supreme Court declared the old not to be legal tender till 31st of December and ever since then some banks began to dispense the old naira notes.
However, some traders refused to accept this money and the banks were also not accepting the deposit of the money they had dispensed.
The Governor has thereby instructed organizations and people to accept the old naira notes.
He mentioned that they should be free to use this money for their transactions since it is still legal.
He also noted the difficulties and struggles people have gone through during the period of the naira scarcity. And so he gave these orders
He mentioned that there would be monitoring of this and anyone who refuses to accept this money should be reported and such organizations or branches of the bank will be shut down.
Anyone rejecting these notes will be heavily sanctioned as we kick off monitoring.