Okezie Ikpeazu, governor of Abia State, has stated that any individual or business entity that refuses to accept the old notes is breaking the law of the Federal Republic of Nigeria and will face sanctions.
In a statement issued on Saturday, the Secretary to the State Government, Chris Ezem, urged residents not to discard the old Naira notes, stating that they are still legal tender in the country.
The statement also advised Abians to feel free to conduct financial transactions using the old notes alongside the new notes as specified.
The statement read in part:
Further to the Supreme Court ruling extending the validity of the old 200,500 and 1000 naira notes as legal tender till December 31st 2023, Abia State Government advise Abians and residents in the State to feel free to carry out their financial transactions with the old naira notes alongside with the new notes as stipulated.
Any individual, group or business entity that rejects the old notes will be contravening the law of the Federal Republic of Nigeria and stand the risk of facing sanctions.
All should be properly guided.
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