Naira crisis: Ogun Governor Threatens To Shut Down Banks Rejecting Old Naira Notes

Ogun State governor, Dapo Abiodun, has warned that the State authorities will shut down any commercial bank rejecting old naira notes....CONTINUE READING>>>

This adopted studies of rejection of outdated naira notes as authorized tender by some banks, people and enterprise operators within the state following the expiration of the February 10 deadline introduced by the Central Bank of Nigeria.

The governor spoke on Tuesday whereas addressing market women and men at Itoku Kampala market in Abeokuta, as a part of his re-election campaign.

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Abiodun, who frowned on the action of the banks, famous that because the new naira notes weren’t out there, commercial banks should settle for the outdated notes to ease the suffering of the folks.

He referred to as on the folks to stay calm, assuring that his authorities was working assiduously to make sure that the current state of affairs was introduced under management.

In the meantime, commercial activities have been on Tuesday paralysed as angry residents trooped out to protest the lingering shortage of the brand new naira notes of N200, N500, and N1000, at Sango-Ota, Ado-Odo/Ota Local Government space of Ogun State.

Residents who had been going to banks for withdrawals stated they might not entry their cash. It was gathered that they grew to become extra agitated when the commercial banks refused to simply accept the outdated naira notes as deposits.

On Tuesday, the protesters barricaded the Joju junction of the Idiroko-Ota highway, inflicting heavy gridlock.

With bonfires on the highway, the folks slammed the President Muhammadu Buhari-led government, accusing the All Progressives Congress (APC) of inflicting hardship on the lots.

Policemen have been mobilised to safe banks and their staff in Sango-Ota.

Recall {that a} violent protest rocked Abeokuta final week, wherein banks have been attacked and one person was shot.