Cash Crunch: Kogi Government Storms Markets, Fuel Stations on Need to Accept Old Naira

Following previous warnings and threats, Kogi State Government officials stormed the streets, market places and fuel stations to sensitize people on the need to accept old naira notes till December 2023.

The officials of the Kogi State Government and stakeholders in the financial sector stormed the streets of Lokoja on Monday to sensitize the people on the need to accept the old naira notes in line with the ruling of the Supreme Court. 

While addressing a large crowd of Okada riders and market women under the newly constructed Ganaja Flyover in Lokoja,  the State Commissioner for Information and Communications,  Mr Kingsley Fanwo congratulated Nigerians over the Supreme Court judgement,  saying the people can now use both the old and new naira notes together till December 31, 2023.

“We have met with the banks and they have agreed that they will accept old naira notes as deposits.  So we urge all Okada riders, Keke riders and market men and women to accept the old naira notes.

“The State Government is grateful to the banks for their cooperation and commitment to the ruling of the Supreme Court of Nigeria. It is criminal to reject old naira notes after the judgement”, he said.

He further said that the State Government will monitor compliance strictly.

In the same vein,  the State Security Adviser,  Commander Jerry Omodara (rtd) harped on the need for Kogites to cooperate with the State Government in her bid to ease the current financial strains occasioned by the current cash policy.  He said his office will work with security agencies to ensure compliance. 

In his remarks,  Mukadam Asiwaju Idris Asiru said the banks are already accepting old notes as deposits,  urging the people to take advantage of the cooperation of the banks.  He also said he has already gotten the commitment of the banks to load their ATM with old and new naira notes to ease the cash scarcity in the state. 

The representatives of the major banks in Lokoja also assured the people of the readiness of the banks to accept old naira notes as deposits.  They said the directive took effect on Monday morning,  urging customers to freely accept old naira notes. 

The sensitization train visited all transport unions, fuel stations and major markets in Lokoja. They also assured the people of sustained sensitization on radio and other media of communication. 

Ibrahim Oyewale, Lokoja

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