Gov. AbdulRahman AbdulRazaq of Kwara warned that rejection of the old Naira notes constitute a criminal offence.

Abdulrahman Abdulrazaq [Premium Times]

AbdulRazaq therefore advised residents of the state, especially traders, to collect and spend the old and new Naira notes as both are still legal tenders in the country.

The governor said this in a statement issued on Tuesday in Ilorin by his Spokesman, Mr Rafiu Ajakaye.

He described the rejection of the old Naira notes as a serious crime under the law.

“As per the judgment of the Supreme Court of Nigeria and the latest circular of the Central Bank of Nigeria (CBN), the old Naira notes still remain a legal tender in the country.

“Banks are now officially issuing the old Naira notes (including N500 and N1, 000).

“I, therefore, urge all residents of our state to spend and receive both the old and the new Naira notes.

“This appeal especially goes to our marketers/traders. Further rejection of the old Naira notes is in breach of the Supreme Court judgment.”

The governor added that: “Such rejection is also inflicting economic pains on ourselves. Marketers and indeed everyone in the state can and should receive the old and new Naira notes since commercial banks are now receiving the two.

“Citizens are to note that rejection of the legal tender, such as the old Naira note, is a serious crime under our law.

“I also implore the banks to kindly extend every support within their powers to our people to ease all their transactions as things return to normal,” he urged.


Our newsletter gives you access to a curated selection of the most important stories daily.

Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more. Also join us across all of our other channels – we love to be connected!

Unblock notifications in browser settings.

Leave a Comment