Ogun State governor, Dapo Abiodun, said any commercial bank found rejecting old naira notes would be shut down by the state government.
The threat is coming on the heels of report that individuals, organisations and banks are declining old naira notes against the backdrop of the February 10 deadline of the Central Bank of Nigeria, CBN, for it to cease to become legal tender
The governor spoke on Tuesday while addressing market men and women at Itoku Kampala market in Abeokuta, as part of his re-election campaign.
Abiodun, who frowned at the action of the banks, noted that since the new naira notes were not available, commercial banks must accept the old notes to ease the suffering of the people.
He called on the people to remain calm, assuring that his government was working assiduously to ensure that the present situation was brought under control.
Meanwhile, commercial activities were on Tuesday paralysed as angry residents trooped out to protest the lingering scarcity of the new naira notes of N200, N500, and N1000, at Sango-Ota, Ado-Odo/Ota Local Government area of Ogun State.
Residents who had been going to banks for withdrawals said they could not access their money. It was gathered that they became more agitated when the commercial banks refused to accept the old naira notes as deposits.
On Tuesday, the protesters barricaded the Joju junction of the Idiroko-Ota road, causing heavy gridlock.
With bonfires on the road, the people slammed the President Muhammadu Buhari-led government, accusing the All Progressives Congress (APC) of inflicting hardship on the masses.
Policemen have been mobilised to secure banks and their workers in Sango-Ota.
Recall that a violent protest rocked Abeokuta last week, in which banks were attacked and one person was shot.
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