Panic as Banks, Fuel stations, others reject old naira notes

Some commercial banks, fuel stations and Point of Sales operators in Abeokuta the Ogun state capital have stopped collecting the old naira notes causing panic among the populace.

Checks by ValidView Network indicate that some big supermarkets such as Foodco Idi-Aba and Justrite in Ibara and obantoko area have also stopped collecting the notes.

Findings by our correspondent on Monday revealed that banks such as Access Bank, Wema Bank as well as NNPC, Fatgbems, Ebenfem filling stations all in Abeokuta refused to accept the old N1,000, N500 and N200 notes from customers.

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Some frustrated and desperate customers in Abeokuta on Tuesday morning also protested the rejection of the old naira notes by fish cold room.

This is even as the Central Bank of Nigeria is yet to make any pronouncement on the acceptance or rejection of the old notes.

The Supreme Court had also restrained the Federal Government from enforcing the February 10 time limit earlier fixed by the apex bank for the currency swap.

A seven-member panel of the apex court, led by Justice John Okoro directed that the deadline be suspended till Wednesday, Feb 15 when the proceedings would continue even as other states had applied to join the suit.

Text message sent to the Chief Press Secretary to Ogun state governor, Mr Kunle Somorin on the state government’s reaction on the issue wasn’t reply at the time of filing this report.