The Lagos State Government has issued a warning against the rejection of old notes in the wake of the controversy surrounding the Naira shortage crisis.
Despite the ongoing legal dispute regarding the issue, the Supreme Court has confirmed that the old notes are still legal tender, and it is against the law to reject them. Those who do so may face prosecution.
According to Lagos State Honourable Commissioner for Information & Strategy, Gbenga Omotoso, “Governor Sanwo-Olu has urged Lagosians to remain law-abiding and to ignore any mischief-makers who may seek to exploit the situation for their own agenda. The Governor is confident that the Judiciary will resolve the issues surrounding the currency shortage crisis.”
To mitigate the impact of the Central Bank of Nigeria (CBN) directive on the old notes, the Lagos State Government has begun the distribution of food packs to the vulnerable among us, as promised by the Governor. Additionally, the 50% fares slash on all State transportation facilities will continue as directed by the Governor.
The Lagos State Government appreciates the patience and calmness of Lagosians during this difficult time and seeks their continued cooperation in the coming days.
