Naira swap: Prominent APC governor to revoke C of O of mega stores rejecting old notes

  • Some mega-stores in Ogun state are on the verge of losing their Certificate of Occupancy (C of O) over their rejection of old naira notes
  • This is as the governor, Adedapo Abiodun has threatened to revoke the certificate if they reject the old notes as legal tender
  • This position of the governor is coming amid the economic crisis caused by the cash crunch across states in Nigeria

Amid the cash crunch in Nigeria which has put Nigerians through many ordeals, the governor of Ogun state, Dapo Abiodun, has threatened to punish mega-stores rejecting old naira notes from customers.

In a tweet on Friday, February 17, Governor Abiodun vowed to revoke the Certificate of Occupancy (C of O) of any establishment that rejects old notes.

Governor Dapo Abiodun
Governor Dapo Abiodun says he will revoke the C of O of stores rejecting old notes
(Photo: @dabiodunMFR)
Source: Facebook

The governor’s tweet read:

“The Ogun State Government will be revoking the certificate of occupancy, CofO of any corporation or store that rejects old Naira notes from members of the public in the State in exchange for goods and services.”

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Naira scarcity: How 2 presidential candidates have access to 100s of millions of new notes, El-Rufai reveals

The governor of Kaduna state, Nasir El-Rufai, had continued to fault the controversial Naira redesign policy of the Central Bank of Nigeria (CBN).

In a statewide broadcast in Kaduna on Thursday, February 16, Governor El-Rufai said the policy’s purported goal of curbing vote-buying has been defeated.

Recall that President Muhammadu Buhari during his nationwide broadcast said he was aware that the new monetary policy was curbing the menace of vote-buying ahead of the 2023 general elections.

“I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics,” the president had said.

Naira redesign policy not affecting target politicians – El-Rufai

However, Governor El-Rufai said the politicians which the CBN has convinced President Buhari to regard as the target of the policy have not been impeded in any way by it.

Naira redesign policy: How Buhari’s chief economic adviser disagreed with Emefiele, El-Rufai speaks

Meanwhile, Governor El-Rufai had also claimed that the CBN designed the Naira redesign policy to fail.


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