The CBN of Nigeria have confirmed that money banquet now is a form of abusive. The CBN said it on February 10th as part of their efforts to create awareness about the abuse currency.

Based on that, the Apex bank has listed other forms of Naira abuse.

  • Spraying
  • Squez
  • Selling
  • Defacing of the Naira notes

Now the CBN said the citizens report any forms of money abuse for the country. “As a citizens your duty is to protect the Nigeria currency.

They also put (toll-free hot-lines) where people can reach them out to report any such activities. Even last week, the CBN has said that they will start prosecute people that abuse Nigeria currency.

They also said that, they will join their hands with other regulatory and law enforcement agencies to punish the offenders.

The punishment that will goes to those Naira abusers

According to the CBN, any-person who abuse Naira notes will be punished under the law in the different forms.

  • The person will be fine well
  • The person can go to jail or
  • The person can also serve the two punished, fine or imprisonment

The agencies that the CBN said will punished those people that will abuse the currency including, Federal Inland Revenue Service (FIRS), the Nigeria Police Force (NPF) and Economics Financial Crime Commission (EFCC) and Nigeria Financial Intelligence Unit (NFIU).

The session 21 (3) of the CBN act 2007 as (amended) say ” spray, dance or match on the Naira or any note issues by the bank during social events, that such thing constitute an abuse and also defacing of Naira notes will be punished by jailing or fines or both fines and imprisonment.

Session 21 (4) also says ” it will be offence when they punished under the sub-session (1) of this session for anybody to Hawks, Sell or else trade the Naira notes, Coins or any other notes issue by bank”.

The Apex bank gives warning to Nigerians people, special people for social functions, they wouldn’t disobey the Naira notes, if not they will risk arrest by the law enforcement agencies.

Even recently, the general of police (IGP) Usman Alkali Baba, order arrest of the person that sell or abuse Naira.

Nigeria people love spraying money on the celebrate body, before the party will seem completed, most of the time they spray money fellow the guest, according to the CBN all those things are all abuse.

It was last week Wednesday, The independent corrupt practices and other related offences commission (ICPC) arrested one woman that is selling the new notes for social media.


Leave a Reply

Your email address will not be published. Required fields are marked *