Governor Dapo Abiodun and Olubadan of Ibadan frown at banks rejecting old Naira

The governor of Ogun State, Prince Dapo Abiodun, has threatened to close any commercial banks there that won’t accept old Naira notes. The warning followed accusations that certain gas stations and commercial banks were refusing to accept old Naira notes as legal tender.

Yesterday, the governor addressed traders at Itoku Kampala Market in Abeokuta as part of his campaign for reelection.

Governor Abiodun, who disapproved of the banks’ actions, pointed out that since the new currency was unavailable, commercial banks had no choice but to take the old notes. He urged the populace to maintain their composure, assuring them that his administration was trying to get the situation under control.

The Olubadan of Ibadan Land, Oba Lekan Balogun, Alli Okunmade II, has also urged the Central Bank of Nigeria (CBN) to reconsider the deadline following reports that banks and gas stations, among other crucial stakeholders in the nation, were rejecting the old notes.

The first-class monarch expressed concern over the unimaginable hardship the people are experiencing and pleaded for prompt action to be taken to solve the situation. This was contained in a statement by his Personal Assistant (Media), Oladele Ogunsola.

Balogun highlighted that the Supreme Court interim order last Thursday suspending the February 10 deadline that the apex bank had previously set for the old notes to cease being legal currency was a huge relief and should be built upon.

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He recalled the advice by the Council of State last week on the same issue, which counselled the CBN to either make new notes available or allow the old and the new notes to co-exist for a period of time, a counsel described as the best in view of the prevailing circumstance.

Olubadan equally appealed to the people to exercise high degree of restraint in their reactions to the situation, awaiting positive response and action from the government.

Also, the Olubadan has charged his Baales to ensure the safety of life and property in their domains by employing local security operatives to police their areas, especially during the day when residents are out on their daily activities.

This charge was given at the installation of new Baales at the ancient Aliiwo Palace, Agodi, which had in attendance some of the members of the Olubadan Advisory Council.