The Abia State Government has approved the continued use of old Naira notes until December 31, 2023. Per the ruling of the Supreme Court in favour of some State governments, residents of Abia State are free to carry out their transactions using the old notes side-by-side with the new notes. This move aims to ensure smooth financial transactions for residents and traders of the State.
However, on the first day of the directive, most shops owners and transporters rejected the old notes in Umuahia, the state capital. Traders and petrol station attendants claimed they were unaware of the government’s directive, while others cited fear of losing their jobs as a reason for not accepting the old notes.
The State Government warns individuals, groups or business owners against rejecting the old notes as it contradicts the Federal Republic of Nigeria Law and may attract sanctions. The government advised everyone to be guided appropriately and comply with the directive to avoid legal action.
While some traders at the Ama Hausa market accepted the old notes, they allowed buyers to exhaust their N1000 or N500 on any commodity before giving change. The rejection of the old notes may be due to the lack of awareness or the fear of accepting fake notes. The government must create more awareness about the directive to ensure compliance and avoid inconvenience to residents and traders in the State.
