The Central Bank of Nigeria (CBN) has announced its plans to collaborate with the Nigeria Police and other law enforcement agencies to arrest and prosecute people who abuse the Naira.
This was disclosed by Acting Director, Corporate Communications, at the CBN, Osita Nwanisobi.
“The attention of the Central Bank of Nigeria (CBN) has again been drawn to the activities of persons, who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions,” he said in a statement on Tuesday.
This is coming on the backdrop of recent events where naira was sprayed on individuals, who with their family and friends displayed acrobatic dance steps on the currency notes.
“There have also been cases where people mishandle the Naira, deface it, hawk the currency at parties and reject the currency in some instances. It should be stated that, contrary to the practice of these unpatriotic persons, it is neither cultural nor moral, for people to disrespect the currency which citizens trade-in,” Nwanisobi said.
“For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that “spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute abuse and defacing of the Naira or such note and shall be punishable under the law by fines or imprisonment or both.”
“Accordingly, the Central Bank of Nigeria (CBN) is collaborating with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic practice.
“We, therefore, warn Nigerians, particularly those at social functions such as birthdays, weddings, and funerals, to desist from disrespecting the Naira or risk being arrested by law enforcement agencies. The Naira is our legal tender and symbol of national pride. Let us respect it and handle it with care.”
This is not the first the central is issuing such a threat against naira abusers. It remains to be seen however when the arre
