The Lagos State Attorney-General and Commissioner for Justice, Moyosore Onigbanjo, has said that the position of the Supreme Court on the naira redesign of the Central Bank of Nigeria remains valid.
The AG said the rejection of the old notes by some persons and institutions in the country was contrary to the stand of the apex court, adding that petrol stations, banks and others who were rejecting the old notes could be prosecuted.
Onigbanjo stated this when he appeared on TVC Business Show on Thursday.
This was coming on the heels on the national broadcast by the President, Major General Muhammadu Buhari (retd.), where he (Buhari) stated that the old N500 and N1000 notes had lost their legal tender status while the old N200 notes should be recirculated by the CBN until April 10, 2023.
Onigbanjo decried the crisis caused by naira scarcity and condemned the high charges by Point-of-Sales operators which have fostered untold hardship on Nigerians.
He noted that people who are hungry and have their means of livelihood eroded cannot care about any macro-economic policy or its short or long-term gain.
He also advised Lagosians who have been impacted by the naira crisis to press charges as, according to him, it was a breach of contract by the banks that refused to pay them cash.
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