Abuse Naira And Go To Jail, CBN Warns Again

The Central Bank of Nigeria (CBN) has warned that those abusing the naira were liable to go to jail.

The apex bank said the law banning the “spraying” and the stepping on the naira, especially at social gatherings, is still in force and that offenders are liable to six months’ imprisonment or a fine of N50,000.

Principal Manager, Currency Operations Department, Central Bank of Nigeria (CBN), Ms Ngozi Etim, on Tuesday said the apex bank was working with the police, the FIRS, the EFCC and the Nigerian Financial Intelligence Unit to curb the abuse.

She condemned the “spraying” of money in public, adding that the envelope remained the best and acceptable means of extending goodwill at events.

“Money should not be squeezed but be put in envelopes. Oil should not be allowed to touch money; keep it neat like you keep your clothes.

“You do not dirty your clothes and you do not keep your clothes on the ground. So, there is need to keep our naira well,” she said.

She added that the CBN Act empowered it to arrest those who abused the naira.

Etim stressed that the naira remains the pride of the nation and must be kept lean at all times.

About Delia Innoma

Delia Innoma is a prolific writer, promoter, artist manager with full professional proficiency in English, German and Igbo languages. She studied accounting and computer programming at the Institute of Management and Technology Enugu and Germany respectively. Delia is also a devoted mother of two and she founded the Diamond Celebrities Magazine. Her sense of responsibility and commitment to the Christian faith are essential forces driving her daily activities.

One Response to “Abuse Naira And Go To Jail, CBN Warns Again”

  1. Nduka Alexander Ejike Reply December 15, 2022 at 09:02

    I will advise you build more prisons ,as your ideology for this redesign of naira is selfish and political, how do u explain to millions of citizens living in rural areas that has not banked before of this new policies cum punishment? As a bank Governor, you bought presidential form of #100million, how did you get the money?who where you before your appointment?

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