Governor Abdullahi Ganduje of Kano State has outlined steps to tackle the old note situation in the state, warning that licenses would be revoked for businesses who refuse to accept them.
The Governor stated on February 14, 2023, that despite the Central Bank of Nigeria’s insistence on a February 10 deadline for old naira notes, these notes are still legal tender affirmed by the Supreme Court’s interim order which stopped the CBN from ceasing their circulation.
Business owners including supermarkets, malls, banks, restaurants, hotels, traders, filling stations and motor parks were reportedly not accepting these notes; thereby causing hardships and affecting economic activities.
Residents were urged to continue dealing in old naira notes and report anyone who denies them.
Meanwhile, Godwin Emefiele, Governor of CBN declared that February 10 was an unchangeable deadline for ceasing to use old naira notes as legal tender but PoS operators should get compensation directly from banks instead of charging higher transaction fees on customers.
Article updated 3 days ago. Content is written and modified by multiple authors.
