Abia govt threatens to sanction persons, businesses rejecting old naira notes

The Abia State government says it will sanction any person, group or business entity that rejects the old N500 and N1,000 notes for business transactions

The threat is contained in a statement issued by the Secretary to the State Government, Chris Ezem, and made available to journalists in Umuahia on Saturday.

Mr Ezem stated that the decision was in line with the Supreme Court ruling extending the validity of the old 200, 500 and 1000 naira notes as legal tender to December 31.

“Abia State Government advises Abia residents to feel free to carry out their financial transactions with the old naira notes alongside 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 stands the risk of facing sanctions,” Mr Ezem added.

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