Governor Dapo Abiodun of Ogun gave a directive to banks and other establishment operating in the state on Friday to accept old N1000 and N500 notes in defiance to the stance of the federal government.
He warned that commercial outlets who reject the old notes from customers would have their that the Certificate of Occupancy revoked.
The governor gave the warning in a series of tweets after riots ensued in some parts of the state.
It was earlier reported that riots broke out in Mowe and Ibafo axes, along Lagos-Ibadan expressway on Friday over the raging cash fiasco.Soldiers were then deployed to douse the riot.
Mr Abiodun reminded businesses in the state that the Supreme Court has ordered that the old naira notes remain legal tender to business transactions.
“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.
“Commercial outlets are hereby reminded that there is an existing court order by the Supreme Court, the apex court in Nigeria, directing that old notes remain legal tender.”
The statement read.
On February 15, the Supreme Court asked Nigerians to continue spending the old naira notes.
On Thursday, President Muhammadu Buhari said only the old N200 banknotes remain a legal tender until April 10 while N500 and N1,000 should be deposited in CBN designated centers across the country.
Mr Buhari’s failure to obey the Supreme Court ruling has elicited open confrontation by state governors including Nasir El-Rufai of Kaduna, Umar Ganduje of Kano and Mohammed Badaru Abubakar, and others who urged citizens to discountenance CBN directives and continue to accept the old notes as legal tender.
