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Why spraying Naira notes at events may attract jail term, N50,000 fine

Isola Moses

The Central Bank of Nigeria (CBN), under the leadership of Governor Godwin Emefiele, has said it would continue to clampdown on anyone who abuses the country’s Naira notes.

Agency report states according to the CBN, spraying of Naira notes amounts to “abusing the country’s symbol of sovereignty.”

The Bankers’ Bank, therefore, has warned that abusing and spraying of Naira notes may land you in prison, having started clamping down on the abusers of Naira notes nationwide.

Recall that in October 2018, the CBN had announced that any Nigerian who sprays Naira notes at parties risks a six-month jail term or a N50,000 fine.

The Apex Bank had threatened to arrest and prosecute Nigerians for abusing Naira notes with the possibility of a jail term or an option of fine, if found guilty.

In the same vein, Mr. Isaac Okorafor, Director of Corporate Communications Department, CBN, reminded Nigerians of the seriousness of the offence in June 2019, in Owerri, Imo State Capital, at a day’s interactive session.

Mr. Okorafor said the abuse of the Naira notes is a crime in Nigeria. He added that spraying the currency amounts to “abusing the country’s symbol of sovereignty.”

“We have begun the clampdown on the abuse of Naira notes. It is a very big offence to spray our Naira notes. It is the symbol of our national sovereignty.”

“The law is very clear on it. When you abuse the notes by spraying them, you get a jail term, or a N50,000 fine or both.”

“We have told banks to assemble all the old or mutilated Naira notes for reprinting. We have given banks three months to do that.”

The Bank also said mobile courts would be deployed nationwide to enforce the law.

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