Nigeria’s apex bank, the Central Bank has warned Nigerians to stop spraying of Naira notes at parties or risk jail term or N50,000 fine as doing so amounts to “abusing the country’s symbol of sovereignty.”
The CBN Governor Godwin Emefiele warned that he is ready to clampdown on anyone who abuses the Naira notes.
The CBN director of Corporate Communications Department, Isaac Okorafor, made this known on Saturday in Owerri at a one-day interactive session.
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.”
He said: “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.”
In October 2018, the CBN announced that any Nigerian who sprays Naira notes at parties risks a six month jail term or N50,000 fine.
The apex bank also said mobile courts would be deployed nationwide to enforce the law.
Also in December 2018, the CBN threatened to arrest and prosecute Nigerians for abusing Naira notes with the possibility of jail time or an option of fine, if found guilty.
