Naira crisis: Abia to penalize companies that refuse to accept old naira

 

Abia State Governor, Okezie Ikpeazu

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Government has said that it will penalize any individual, team, or company that refuses to conduct business using the outdated 500 and 1,000 naira notes.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.

The Abia State Government invites residents to feel free to conduct their financial transactions using both the old and new naira notes in accordance with the rules.

"Any person, group, or commercial entity that rejects the old notes will be in violation of Federal Republic of Nigeria law and subject to consequences," Ezem continued.

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