From Bamigbola Gbolagunte, Akure
Ondo State Governor, Rotimi Akeredolu, has decried the rejection of old naira notes by a section of traders and business owners in the state, describing the act as flagrant disobedience to the law.
The governor, in a broadcast yesterday, explained that rejecting the old N1,000, N500 and N200 notes would inflict and sustain needless pains on the people.
He said the matter of legitimacy and return into circulation of all old naira notes in the nation’s economy had been settled permanently by the Supreme Court.
He said the apex court had ruled that the old currency notes must remain as legal tender in exchange of goods and services in the nation.
Akeredolu appealed to the people to embrace and accept the old notes alongside the new notes as stipulated by law.
The governor commended commercial banks in the state for receiving and paying with the old notes.
He appealed to banks to increase the circulation of all currencies at their disposals and devise a more effective way to decongest the banks, especially at the ATM cash points.
“It is, therefore, of great concern to me today, that a large section of our people in the state, particularly traders in our markets, taxi and bus drivers, barbers, auto mechanics and artisans are rejecting the old naira notes thereby inflicting and sustaining a needless pain on their fellow citizens and customers. This is unfortunate and unexpected. It is a flagrant disobedience to the law and the Central Bank of Nigeria directives.
“I, therefore, wish to inform you that the rejection of the old N1,000, N500 and N200 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.
“I hereby use this opportunity to appeal to you all, my good people of Ondo State, to embrace and accept the old notes alongside the new notes as stipulated by law. Let us not create a needless tension over the matter. Please collect, spend and exchange the old notes without let or hindrance,” he said.
The governor urged all media organisations in the state, as well as all traditional rulers, community leaders and opinion moulders to assist government in educating the people, especially at the grassroots on the need to embrace and accept the old naira notes.