Reject old naira notes and get shut – Governor Abiodun warns commercial banks

….Ogun joins suit against Fed Gov

Governor of Ogun state, Prince Dapo Abiodun has warned commercial banks against rejection of the old naira notes. 

The governor gave the warning on Tuesday while addressing market women at the popular Kampala market in Itoku, Abeokuta.

While sympathizing with the people on the current cash crunch, the governor vowed to shut any bank that reject the old notes from their customer.

ValidViewNetwork had earlier reported that some commercial banks in Abeokuta as well as fuel stations and supermarkets have started rejecting the old naira causing apprehension among the people. 

But addressing the market women who expressed concern over the situation, Governor Abiodun insisted that banks should collect the old naira notes until the new notes are made available.

Meanwhile the Ogun state government said it has filed an application at the Supreme Court of Nigeria, seeking to join Kaduna, Kogi and Zamfara States, in a suit against the Federal Government of Nigeria, over the  demonetization policy which introduced new versions of N200, N500 and N1000.

The state, in a Motion of Notice filed by its counsel, Afe Babalola and Co, on February 13, sought to be joined as 4th plaintiff/applicant, in a suit number SC/CV/162/2023.

The applicant in the Notice further stated that it sought to be a co-plaintiff for the just and effective determination in the suit instituted by the other three plaintiffs.

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Listing thirteen grounds upon which the application was predicated, the plaintiff submitted among others, that the implementation of the Federal Government-sanctioned policy has thus far negatively affected the citizens all over the federation which includes Ogun State, and left several residents of the state stranded, cash strapped and frustrated leading to riots, grievous interruption of commercial activities, and a gradual economic downturn in the state.

The 4th plaintiff submitted further that: “Ogun State is one of the constituent members of the Federation recognized under the provision of Section 3 (1) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended); 

“The Attorney General of Ogun State seeking to be added or joined as the 4th plaintiff in this suit is the Chief Law Officer of Ogun State vested with the power and responsibility of representing Ogun State in legal matters including the protection of the interest of Ogun State by challenging any law, policy or action of the Federal Government perceived to be in violation of the laws of the Federation for the order and good government of Ogun State; 

“The implementation of the policy has totally paralyzed and brought to standstill the economic activities of Ogun State and also severely impaired the government’s ability to deliver on its economic agenda to the people;

“The already existing Plaintiffs and Defendants will not be prejudiced in any way by the grant of this application which had been brought in the interest of justice and right to fair hearing to join the Applicant/Party seeking to be joined as a co-plaintiff; 

“this application is necessary in order to prevent a multiplicity of suits;