Governor Babajide Sanwo-Olu has said banks who refuse to comply with the Supreme court’s directive on naira note will be shutdown
The Governor made this known on Monday via his official Twitter handle @jidesanwoolu.
Sanwo-Olu wrote “My dear Lagosians, I have noted the difficulties that you have been having over the naira redesign crisis. I feel your pains.
“Kindly note that commercial banks have been directed to accept the old N500 and N1,000 notes as deposits and pay them out for withdrawals.
“Putting the needs of our residents above all, we successfully got a Supreme Court verdict which extends the validity of the existing Naira notes till Dec 31st, 2023.
“The CBN at a Bankers Committee meeting yesterday directed Banks to resume acceptance in compliance.
“The Lagos State Government will report the bank to the CBN and immediately shut down the offending branch.
“I assure you that this too shall pass as the authorities are working to ensure that the teething problems of the redesigning of our currency are resolved.”
