We’ll Revoke Licences Of Banks, Businesses That Reject Old Naira Notes – Kano Gov Ganduje

The Kano State government has threatened to revoke the operational licenses of significant business owners or take action against anyone who refuses to accept the old naira notes as a means of transaction.

Governor Abdullahi Umar Ganduje in a statement issued by the commissioner for information and internal affairs, Malam Muhammad Garba, said the old naira notes are still legal tender.

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He said the Supreme Court was emphatic on its interim injunction on the issue of the old naira notes which would continue to be used as legal tender hand-in-hand with the new ones until its gradual and final phase-out.

The governor noted that it has come to the notice of the government that some business owners such as supermarkets, malls, banks, restaurants, hotels, traders in markets, filling stations, and motor parks, among others, are rejecting the old naira notes in a business transaction.

“Business and economic activities are seriously affected by the naira redesign and unfortunately some self-centered individuals are cashing in on the situation to cause further hardship on the people by not accepting the old naira notes during transactions,” the statement added.

He said the people have suffered enough untold hardship and therefore the state government would not fold its arms and allow a few selfish elements to worsen the situation.

The governor called on the people in the state to continue with their lawful businesses and report anyone who refuses to accept the old naira notes to the appropriate quarters.

Meanwhile, the Central Bank of Nigeria has insisted that the old notes are no longer legal tender in Nigeria in spite of the Supreme Court’s order restraining the apex bank pending the hearing of the suit brought to it by Kano, Kogi and Zamfara states on February 15, 2023.
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