Obaseki backtracks, begs residents to accept old N500, N1000 notes

The Edo State Governor, Godwin Obaseki, has appealed to residents of the state to accept the old notes following the Supreme Court judgement that the old N500 and N1000 notes remain legal tender till December 31, 2023.

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

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However, Obaseki in a statement on Thursday by the Commissioner for Communication and Orientation, Chris Nehikhare, said the old notes should be accepted alongside the new ones to facilitate trade and boost economic activities.

“With the Supreme Court judgement, the controversy over the circulation of the notes have been put to rest and the people are urged to accept and trade with the notes.

“We are also exploring other means of transaction such as electronic transfers, among others, as all issues of cash available are addressed by the relevant government agencies,” he said.