Reject Old Naira, Face Prosecution – Sanwo-Olu


Lagos State Governor, Babajide Sanwo-Olu has warned those rejecting old naira notes to desist or face prosecution.

He said the rejection of old N200, N500 and N1,000 notes is contrary to the position of the Supreme Court.

The governor made this known in a statement signed by the Commissioner of Information and Strategy, Gbenga Omotoso on Wednesday.

Sanwo-Olu’s warning comes after the Supreme Court adjourned the case on the naira swap policy of the Central Bank of Nigeria (CBN) till February 22 for hearing of the consolidated suits by 10 states.

The statement read in part, “When the matter first came up on February 8, the apex court said the old notes remained legal tender.

“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.”

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