Cash Crunch: Kogi government to ensure full compliance of Supreme Court ruling

Kogi State Government, has set up a high-powered Committee to ensure full compliance of the Supreme Court ruling as it affects the use of the old N500 and N1000 as legal tender, Fresh Angle International can report.

Members of the Committee, are; the Kogi State Commissioner for Finance, Budget and Economic Planning; Commissioner for Information and Communications; Commissioner for Commerce and Industry; the State Security Adviser and the Managing Director, Kogi Enterprise Development Agency.

The Committee is to ensure that Kogites take full benefits of the Supreme Court ruling on the old naira notes and ease the hardship they have been subjected to by the policy that has brought so much hardship to the people. 

This much was obtained from a press statement released this afternoon by the Kogi State Government.

The Statement, which was signed by the Kogi State Commissioner for Information and Communications, Kingsley Femi Fanwo, explained: “The reason the Kogi State Government joined other State Governments in the country to pursue the case was to ease the hardship occasioned by the unavailability of the new naira notes, which the court fully granted.

“It is therefore unacceptable that some persons and businesses will continue to reject the use of the old naira notes, even after the court judgement validating their use. Rejecting the old naira notes is a clear disobedience of the Supreme Court ruling.

“Anyone who rejects the old naira notes should be reported to security and government authorities for immediate action. Also, banks that refuse to accept old naira deposits shall be sealed as the State Government will not accommodate financial institutions that willfully disobey court orders, moreso, the orders of the highest court in Nigeria. 

“Kogites should note that since the banks are issuing the old naira notes, they are bound to also receive it. We cannot continue to kill our economy after the Supreme Court has granted us freedom.”

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