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Abia State Govt Orders Use Of Old Notes, Threatens To Sanction Defaulters

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Abia State Govt Orders Use Of Old Notes, Threatens To Sanction Defaulters

The Abia State government led by Governor Okezie Ikpeazu, has ordered Abians and residents in the state to carry out their financial transactions using the old denominations of; N200, 500 and 1000 notes in line with the supreme court ruling extending the validity of the notes.

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A statement issued on March 11 by Barrister Chris Ezem, Secretary to the Abia State Government., warned that defaulters will be sanctioned in accordance with the law of the Federal Republic of Nigeria.

The statement read;

Further to 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.

All should be properly guided.

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