• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Lagos warns against rejection of old naira notes, threaten to prosecute violators

Chike Olisah by Chike Olisah
February 15, 2023
in Business News, Currencies
Babajide-Sanwo-Olu, transport fare reduction

Governor Babajide Sanwo-Olu

Share on FacebookShare on TwitterShare on Linkedin

The Lagos State Government has warned against the rejection of the old naira notes, promising to prosecute those that violate the directive.

This disclosure is contained in a series of tweet posts on Wednesday by the Senior Special Assistant to the Governor on New Media, Jubril Gawat, on his official Twitter account, where he said the state government acknowledges the patience and calmness of Lagosians on the controversial naira shortage crisis.

Gawat said that Governor Sanwo-Olu, who is confident that the judiciary will resolve all the issues around the naira shortage crisis, urged Lagosians to remain law-abiding and shun mischief makers who may want to exploit the situation to promote anti-people agenda.

RelatedStories

Lagos govt mandates permits for amplified sound in nightclubs, worship centres 

Lagos Govt shuts Oko Oba abattoir in Agege over unsanitary practices, environmental violations

June 19, 2025
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 

Lagos Govt suspends building permits along Lagos-Calabar Coastal Highway corridor  

June 16, 2025

It is against the law to reject old naira notes

  • Gawat in the statement said, ‘’The Lagos State Government wishes to put on record the patience and calmness of Lagosians following the controversy generated by the Naira shortage crisis.
  • ‘’The State Government has joined the dispute at the Supreme Court, which today adjourned the hearing of the matter till February 22. When the matter first came up on February 8, the apex court said the old notes remained legal tender.
  • ‘’That position has not changed. The State Government hereby warns those rejecting the old notes to desist from doing so or face prosecution. It is against the law to reject the old notes as doing so is contrary to the position of the Supreme Court.
  • ‘’Governor Sanwo-Olu urges Lagosians to remain law-abiding and shun mischief makers who may exploit this temporary situation to promote their anti-people agenda. He is confident that the Judiciary will resolve all the issues around the currency shortage crisis.
  • ‘’To cushion the effect of the Central Bank of Nigeria (CBN) directive on the old notes, especially on the vulnerable among us, Lagos State has started the distribution of the food packs promised by the Governor.
  • ‘’The 50% fares slash on all State transportation facilities continues, as directed by Mr. Governor.’’

For catch up

  • Recall that on Wednesday, February 8, 2023, the Supreme Court in ruling by a 7-member panel led by Justice John Okoro, temporarily halted the CBN’s February 10 deadline for the exchange of the new naira notes with the newly redesigned naira notes, adjourning the case to February 15, 2023.
  • However, on Wednesday (today), the apex court adjourned a hearing in the suit banning the use of the old naira to Wednesday, 22nd February 2023.
  • This is coming after nine joined the suit initially filed by Kogi, Kaduna and Zamfara states.
  • The states are Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo, and Sokoto states bringing the new total of plaintiffs to ten. On the other hand, Edo and Bayelsa have filed to be joined as respondents.
  • In a related development, some state governments like Kano, Zamfara,  Borno, Ogun, and others have warned businesses and banks in the state to stop rejection of old naira notes from citizens or they will be shut down.
  • The Kano State Government a few days ago shut down a popular supermarket in the state for rejecting old naira notes from customers.

Follow us for Breaking News and Market Intelligence.
Tags: Babajde Sanwo-OluLagos State Government
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

Lagos govt mandates permits for amplified sound in nightclubs, worship centres 
Business News

Lagos Govt shuts Oko Oba abattoir in Agege over unsanitary practices, environmental violations

June 19, 2025
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 
Real Estate and Construction

Lagos Govt suspends building permits along Lagos-Calabar Coastal Highway corridor  

June 16, 2025
Lagos state govt warns communities near rivers and lagoons of dangerous flash floods 
Business News

Lagos state govt warns communities near rivers and lagoons of dangerous flash floods 

June 16, 2025
Lagos Govt says residents lose N4 trillion annually to traffic congestion 
Sectors

Lagos Govt says residents lose N4 trillion annually to traffic congestion 

June 13, 2025
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 
Real Estate and Construction

Lagos Govt targets completion of 14,000 housing units by 2026 

June 11, 2025
Lagos govt mandates permits for amplified sound in nightclubs, worship centres 
Business News

Lagos Govt impounds vehicles dumping waste in canal at Iba-Igando, offenders to face prosecution 

June 5, 2025
Next Post
Peter Mbah

Pinnacle Oil writes DSS over alleged plot against its founder and PDP Governorship candidate in Enugu state

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • How to apply for the Federal Ministry of Education’s TVET program with N45,000 monthly stipend 
  • SEC warns Nigerians against unregistered trading platform CMTrading 
  • The digital dilemma of Nominal Identity: Why your name alone is not enough

Follow us on social media:

Recent News

FG announces N45,000 monthly stipend for technical college students nationwide 

How to apply for the Federal Ministry of Education’s TVET program with N45,000 monthly stipend 

June 21, 2025
SEC warns Nigerians against unregistered trading platform CMTrading 

SEC warns Nigerians against unregistered trading platform CMTrading 

June 21, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics