Abia govt to sanction traders rejecting old notes
The Abia State Government has said that it will penalize any individual, team, or company that refuses to conduct business using the outdated 500 and 1,000 naira notes.
The warning was stated in a statement released by the State Government Secretary, Mr. Chris Ezem, and provided to journalists in Umuahia on Saturday.
Ezem claimed that the choice was consistent with the Supreme Court's order prolonging the legal tender status of the previous 200, 500, and 1000 naira bills through 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,†Ezem added.
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