Naira Scarcity: Gov Ganduje Shuts Down Popular Supermarket Rejecting Old Notes

The Kano state government, through the Consumer Protection Council, on Sunday, shut the popular supermarket, Wellcare, over its refusal to accept old Naira notes.

Naija News reports that this comes amidst the confusion in the country over the use of old Naira notes, especially after the Central Bank Of Nigeria stated that after the February 10 deadline, the notes cease to be legal tender.

The Acting Chairman of the Kano State Consumer Protection Council, Baffa Babba Danagundi, said the governor, Abdullahi Ganduje, ordered the shutdown of the supermarket.

According to him, the WellCare Supermarket’s refusal to accept old naira notes from consumers in violation of the state government’s directive led to the closure order.

He noted that the state government has not banned the use of old Naira notes, thus any shop caught not receiving the old notes will be dealt with decisively.

Shortly after the closure, Wellcare Alliance Limited wrote a letter of apology to the government, seeking immediate intervention to re-open the supermarket.

Naira Swap: Nigeria At Risk Of CBN-Induced Recession – NGF

Meanwhile, the Nigeria Governors Forum (NGF) on Saturday said Nigeria is at risk of recession due to the redesigned naira policy of the Central Bank of Nigeria (CBN).

Naija News learnt that the governors stated this in a statement released on Saturday at the end of their meeting.

The Chairman of the forum, Aminu Tambuwal condemned the apex bank over the handling of the naira redesign.

The governors’ forum further stated that the cash scarcity is causing hardship.