Ikpeazu Threatens Sanctions Against Organisations, Banks Rejecting Old Naira Notes

Abia State governor, Dr. Okezie Victor Ikpeazu has threatened to sanction individuals, business entities, banks rejecting the old N200, N500 and N1,000 old naira notes.

This is contained in a statement on Saturday signed by the Secretary to the State Government, Barr. Chris Ezem.

He said this follows the Supreme Court ruling extending the validity of the old 200,500 and 1000 naira notes as legal tender till December 31st 2023,

“Abia State Government advise Abians and residents in the State to feel free to carry out their financial transactions with the old naira notes alongside with the new notes as stipulated.

“Any individual, group, or business entity that rejects the old notes will be contravening the law of the Federal Republic of Nigeria and stand the risk of facing sanctions”, the statement added.