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New Naira: Police authorities move against racketeers selling, rejecting, spraying banknotes

*Usman Alkali Baba, Nigeria’s Inspector General of Police, orders the arrest and prosecution of all individuals engaging in the sale or abuse of the country’s currency in line with the relevant provisions of Sections 20 and 21 of the Central Bank of Nigeria Act, 2007

Alexander Davis | ConsumerConnect

Usman Alkali Baba, Inspector General of Police (IGP), has ordered the arrest and subsequent prosecution of all individuals engaged in the sale or abuse of the Naira notes issued by the Central Bank of Nigeria (CBN).

Olumuyiwa Adejobi, Force Public Relations Officer (FPRO), in a statement issued Friday, February 3, 2023, said the directive was in furtherance of the Federal Government’s policy and drive to uphold the provisions of the CBN Act, 2007, and dignify Nigeria’s currency.

Bales of redesigned banknotes 

Adejobi noted the IGP ordered the Deputy Inspector-General of Police (DIG) in charge of the Force Criminal Investigations Department and the Assistant Inspector-General of Police (AIG) in charge of the Force Intelligence Bureau to place officers and men of the Department and the Bureau across the country on high alert.

The statement also said: “Police and Commissioners of Police in charge of Police Commands and Formations to carry out full enforcement of the provisions of Sections 20 and 21 of the Central Bank of Nigeria Act, 2007 which criminalizes amongst other things the hawking, selling or otherwise trading, spraying of, dancing or matching on the Naira notes, falsifying or counterfeiting of bank notes, refusal to accept the Naira as a means of payment, tampering with the coin or note issued by the CBN.

He further stated: “The Inspector-General of Police reiterated the mandate of the Nigeria Police Force to enforce all laws and regulations without any prejudice to the enabling Acts of other security agencies and urged all and sundry to cooperate with the Nigeria Police Force as it brings the long arm of the law to bear upon all violators of the provisions of the CBN Act, and other extant statutes in Nigeria, with a view to having a well-policed society in all ramifications within the country.”

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