The Governor of Kano State, Abdullahi Ganduje has said that banks and businesses rejecting the old naira notes will face sanctions.
Am Business reported that the Supreme Court gave a ruling order that has constrained the Central Bank of Nigeria from implementing the extended deadline of February 10 because of the naira crunch.
Ganduje cited the provisional measure by the Supreme Court that allowed the old naira note to still be a legal tender alongside the new note until the old note finally phases out.
As a result of the scarcity of new notes, some businesses are reportedly rejecting old notes, and worsening the situation, according to Governor Ganduje.
The governor of Kano State has reinstated that the old naira notes are still legal tender.
He said there will be sanctions such as revoking the licences of businesses if they are caught rejecting the old note.
In his words, “Business and economic activities are seriously affected by the naira redesign.
“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.”
According to Channels, the governor said that Nigerians have gone through enough hardship.
As a result, the state government would not watch the few selfish individuals or organisations to exacerbate the current situation.
The governor urged the residents of the state to carry on with their legal businesses and report anyone who refuses to accept the old naira notes to the relevant authorities.
