Stop The “Self-Induced Pain”, Accept Old Naira Notes, Akeredolu Charges Ondo Residents

Ondo state governor, Rotimi Akeredolu SAN has asked residents to stop the “self-induced pain” experienced in the state due to the continued rejection of the old N200, N500, and N1000 notes by business owners.

Last week, a seven-member panel of supreme court ruled that the old notes remain legal tender until December 31, 2023.

In a statement to Ondo residents, the governor said the rejection of the old naira notes was an obvious disobedience to the law, adding that such act would inflict needless pain on the residents.

“It is imperative that I address you today because of the need to halt a self-induced pain currently being experienced by us all in the state. This is on account of the circulation and use of the old naira notes in our economy,” he said.

“It is of great concern to me, that a large section of our people in the state, particularly traders in our markets, taxi and bus drivers, barbers, auto mechanics, and artisans are rejecting the old naira notes thereby inflicting and sustaining needless pain on their fellow citizens and customers.

“This is unfortunate and unexpected. It is a flagrant disobedience to the law and the central bank directives.

“I, therefore, wish to inform you that the rejection of the old N1000, N500 and N200 notes by us will do us no good.

“It will stifle our local trade and business transactions, weaken our economy and cause us great harm and avoidable troubles.

“I hereby use this opportunity to appeal to you all, my good people of Ondo state, to embrace and accept the old notes alongside the new notes as stipulated by law.

“Let us not create needless tension over the matter. Please collect, spend, and exchange the old notes without any hindrance.”