Naira Swap: Any Bank In Kano That Refuses To Accept Old N500 And N1000 Notes Will Be Destroyed

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Naira Swap: Any Bank In Kano That Refuses To Accept Old N500 And N1000 Notes Will Be Destroyed

Gov Abdullahi Ganduje of Kano state has issued a warning to commercial banks operating in the state that they would be destroyed if they refuse to accept the old N500 and N1,000 notes.

He made this known Friday, Feb. 17, during his inspection of palliatives meant for distribution to the citizens to cushion the effects of the hardship caused by the cashless policy, Channels TV reports.

“Any bank that refuses to accept old five hundred and one thousand Naira notes will be destroyed. We will not tolerate such disobedience from any financial institution operating within our jurisdiction,” he stated.

Governor Ganduje further disclosed that the space of the destroyed banks would be used for building schools.

“We will convert the space of the destroyed banks into schools that will provide quality education for our children,” he said according to the publication.

Governor Ganduje’s spokesperson, Abba Anwar, defended the governor’s statement, stating that the state government has the power to take such measures to protect the interests of the citizens.

Anwar said: “The governor is not making an empty threat. The government has the power to take such measures if it is in the best interest of the people. The governor is determined to ensure that the people of Kano State do not suffer any undue hardship as a result of the cashless policy.”