Any Bank Rejecting Old Naira Notes Will Be Shut Down – State Govt Declares

VOICE AIR MEDIA News Update

Ogun State governor, Dapo Abiodun, has warned that the State government will shut down any commercial bank rejecting old naira notes.

This followed reports of rejection of old naira notes as legal tender by some banks, individuals and business operators in the state following the expiration of the February 10 deadline announced by the Central Bank of Nigeria.

The governor spoke on Tuesday while addressing market men and women at Itoku Kampala market in Abeokuta, as part of his re-election campaign.

Abiodun, who frowned at the action of the banks, noted that since the new naira notes were not available, commercial banks must accept the old notes to ease the suffering of the people.

He called on the people to remain calm, assuring that his government was working assiduously to ensure that the present situation was brought under control.

Meanwhile, commercial activities were on Tuesday paralysed as angry residents trooped out to protest the lingering scarcity of the new naira notes of N200, N500, and N1000, at Sango-Ota, Ado-Odo/Ota Local Government area of Ogun State.

Residents who had been going to banks for withdrawals said they could not access their money. It was gathered that they became more agitated when the commercial banks refused to accept the old naira notes as deposits.

On Tuesday, the protesters barricaded the Joju junction of the Idiroko-Ota road, causing heavy gridlock.

With bonfires on the road, the people slammed the President Muhammadu Buhari-led government, accusing the All Progressives Congress (APC) of inflicting hardship on the masses.

Policemen have been mobilised to secure banks and their workers in Sango-Ota.
Recall that a violent protest rocked Abeokuta last week, in which banks were attacked and one person was shot.