Obaseki Requests That Locals Accept Old N500 and N1000 Notes

The governor of Edo State, Godwin Obaseki, has pleaded with locals to accept outdated naira notes.

His appeal follows the Supreme Court’s decision that the old N500 and N1000 notes would continue to be accepted as lawful money till December 31, 2023.

The Central Bank of Nigeria set a deadline of February 10 for old naira notes, and the Edo State Government is one of the state governments that is a co-defendant with the federal government against Kaduna and some other state governments (CBN).

Obaseki, however, said in a statement released on Thursday, March 9, by the Commissioner for Information and Orientation, Chris Nehikhare, that the old and new naira notes need to be accepted side by side to promote commerce and the economy.

“With the Supreme Court’s ruling, the debate concerning the circulation of the notes has been resolved, and the public is invited to accept and use the notes for commerce,” he stated.

As all concerns about cash availability are handled by the appropriate government authorities, we are also investigating other forms of transaction, such as electronic transfers, among others.