Obaseki asks Edo residents to accept old N500 and N1000 notes

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Governor of Edo State, Godwin Obaseki, has appealed to residents of Edo state to start accepting the old notes.

His plea comes after the High Court ruled that the old N500 and N1000 notes remain legal tender until December 31, 2023.

The Edo State Government is one of the co-defendants with the federal government against Kaduna and some other state governments who urged the Supreme Court to set the February 10 deadline for the old naira notes set by the Central Bank of Nigeria (CBN) to canceled

However, Obaseki said in a statement on Thursday, March 9, by the Commissioner for Communications and Guidance, Chris Nehikhare, that the old notes should be accepted alongside the new ones to facilitate trade and boost economic activity.

He said: “With the judgment of the High Court, the controversy over the circulation of the notes has been put to rest and people are asked to accept and trade with the notes.

“We are also exploring other means of trading such as electronic transfers, among others, as the relevant government agencies are dealing with all available cash issues. “

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