Governor Babajide Sanwo-Olu has warned residents and businesses in Lagos against rejecting old notes.
He vowed that those who reject old notes will be prosecuted.
The Governor, in a statement on Wednesday by Commissioner for Information and Strategy Gbenga
Omotoso, said: ”The State Government has joined the dispute at the Supreme Court, which today adjourned the hearing of the matter till February 22. When the matter first came up on February 8, the apex court said the old notes remained legal tender.
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That position has not changed. The State Government hereby warns those rejecting the old notes to desist from doing so or face prosecution. It is against the law to reject the old notes as doing so is contrary to the position of the Supreme Court.”
To cushion the effect of the Central Bank of Nigeria (CBN) directive on the old notes, especially on the vulnerable among us, he informed Lagos State has started the distribution of the food packs promised by the Governor.
He said the 50 per cent fares slash on all state transportation facilities as directed by Governor also subsists.
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