TUESDAY- 17th August, 2021: Nigerians that formed the habit of spraying wads of naira at social engagements have been warned to desist from such flagrant abuse of the legal tender the law enforcement agents have been mandated to arrest and prosecute defaulters henceforth.
The Acting Director, Corporate Communications of the Central Bank of Nigeria (CBN) gave the warning in Abuja on Tuesday, noting that the apex bank, in collaboration with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) is determined to address the unpatriotic practice.
According to him, the abuse of naira at social functions has assumed an alarming rate as Nigerians are seen hurling wads of naira notes in the air and stamping on the currency.
“There have also been cases where people mishandle the naira, deface it, hawk the currency at parties and reject the currency in some instances.
“It should be stated that, contrary to the practice of these unpatriotic persons, it is neither cultural nor moral, for people to disrespect the currency which citizens trade in.
“For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that “spraying of, dancing or matching on the naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the naira or such note and shall be punishable under the law by fines or imprisonment or both.
“We therefore warn Nigerians, particularly those at social functions such as birthdays, weddings and funerals, to desist from disrespecting the Naira or risk being arrested by law enforcement agencies.
The naira is our legal tender and symbol of national pride. Let us respect it and handle it with care” Nwanisobi explained.
Nigerians have accepted spraying of naira at social engagements as a status symbol and show of love.
The influential and powerful are major culprits of the abuse.
