THE Central Bank of Nigeria (CBN) has warned those abusing the naira notes, especially the redesigned notes, stressing that they are liable to jail.
The regulatory apex bank warned that the law banning the “spraying’’ and the stepping on the naira, especially at social gatherings, was still in force and offenders are liable to six months imprisonment or N50, 000 fine.
Principal Manager, Currency Operations Department at the CBN, Ms. Ngozi Etim, who gave the warning, said the CBN was working with the Police, Federal Inland Revenue Service (FIRS), Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to curb the abuse.
While condemning the “spraying’’ of money in public functions, Ms. Etim said the use of the envelope remained the best and acceptable means of extending goodwill at events, adding: “Money should not be squeezed, but be put in envelopes. Oil should not be allowed to touch money; keep it neat like you keep your clothes.
“You do not dirty your clothes and you do not keep your clothes on the ground, so there is need to keep our naira well.”
She stated that the CBN Act empowers it to arrest those who abuse the naira, saying the naira notes remains the pride of the nation and must be kept clean at all times.
Director, Corporate Communication, Mr. Osita Nwanisobi, urged Nigerians to always treat the naira with care and frowned at the idea of hurling wads of naira notes in the air and stamping on the currency at social functions.
“There have also been cases where people mishandle the naira, deface it or hawk it at parties. Contrary to the practice of these unpatriotic persons, it is neither cultural nor moral for people to disrespect the currency, which citizens trade in,” he stressed.
