Home Local News CBN to arrest, prosecute abusers of Naira

CBN to arrest, prosecute abusers of Naira

The Central Bank of Nigeria (CBN) has said it is collaborating with the Nigeria Police and other law enforcement agencies to arrest and prosecute anyone found abusing the Naira.

Acting Director, Corporate Communications, CBN, Osita Nwanisobi, made this known in a statement on Tuesday.

He, however, warned 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 attention of the Central Bank of Nigeria (CBN) has again been drawn to the activities of persons, who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions.

There have also been cases where people mishandle the Naira, deface it, hawk the currency at parties and reject the money 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 money while dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute abuse and defacing of the Naira or such note and shall be punishable under the law by fines or imprisonment or both.

“Accordingly, the Central Bank of Nigeria (CBN) is collaborating with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic practice.

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,” the statement said.

Chinweuba Anyaragbuhttps://cdanewsonline.com
BEST SELLING BLOG THEME OF ALL TIMES. Follow us for more breaking news . Share,, like and Comment on our contents

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Scores of terrorists dead as Boko Haram, ISWAP clash in Lake Chad

An infighting between the late Abubakar Shekau’s faction of Boko Haram and Islamic State of West African Province (ISWAP), has reportedly left scores of...

Major 10 News update you need to know this Tuesday Morning

Good morning readers Here is today’s summary from Nigerian Newspapers: 1. A few days after endorsing the presidential candidate of the Peoples Democratic Party, Atiku...

I was surprised – Messi reacts to Germany’s Elimination

Argentina captain, Lionel Messi, has said he was surprised to see Germany get eliminated from the 2022 FIFA World Cup tournament. Recall that Germany was...

I have never lost any election – Tinubu fires back at Babachir Lawal

The All Progressives Congress, APC, presidential candidate, Bola Tinubu, says he has never lost any election he contested. Tinubu made the remark while criticizing the...

Recent Comments