CBN to Nigerians: Abuse naira, go to jail

The Central Bank of Nigeria (CBN) has said those abusing the naira were liable to go to jail.

The CBN warned that the law banning the “spraying” and the stepping on the naira, especially at social gatherings is still in force, noting that offenders are liable to six months imprisonment or a fine of N50,000.

There have been videos of Nigerians, including politicians, subjecting the naira to abuse.

Section 21(3) of the CBN Act 2007 provides that mishandling of the naira is a punishable offence.

Speaking in Abuja on Tuesday, the CBN Principal Manager, Currency Operations Department, Ngozi Etim, said the apex bank was working with the police, the FIRS, the EFCC, and the Nigerian Financial Intelligence Unit to curb the abuse.

Etim condemned the “spraying” of money in public, adding that the envelope remained the best and acceptable means of extending goodwill at events.

“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 said.

Etim added that the CBN Act empowered it to arrest those who abused the naira, stressing that the naira remains the pride of the nation and must be kept clean at all times.

In his remarks, the CBN’s Director, Corporate Communication, Osita Nwanisobi, urged Nigerians to always treat the naira with care.

Nwanisobi condemned 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.

The Star