Spray Naira at ceremonies/events and go to 6months Jail, or N50,000 Fine

...Sale of Naira Notes at Parties also carry same punishment

Concerned by the alarming rate of mutilation and abuse of Naira notes in the country, the Central Bank of Nigeria (CBN) has dusted its books to sanction. erring individuals and groups found culpable of the  act.

Consequently, the Bankers Committee said those who ‘spray’ Naira notes at parties risk going to jail for six months or paying a N50,000 fine.

The committee said last Thursday that mobile courts are now to summarily try and penalize those abusing the national currency, especially at social functions.

CBN’s spokesman, Mr Isaac Okorafor said the police and the Ministry of Justice would be actively involved in this sanitization operation, adding that mobile courts will be deployed nationwide to effectively address this financial menace.

According to Okorafor, “If a celebrant is dancing and you spray him/her, you may go to jail from the party venue because the law enforcement agents will be there, waiting to arrest you.

“It is the duty of law enforcement agencies to catch offenders and take them to court. Our collaboration with the police will intensify as we move to implement the mobile court for offenders.”

Okorafor, who urged Nigerians to refrain from abusing the national currency in using cash as a gift item, said; “If you want to give, put the money in an envelope, and give it the celebrant. Let’s know that anybody hawking and writing on the naira will face six months in jail or N50,000 or both.”

In his remarks, Managing Director of First Securities Discount House (FSDH) Merchant Bank, Mrs Handa Ambah said people selling Naira notes would no longer go punished.

Mrs Ambah insisted that Nigerians must be made to have respect for the nation’s currency, stressing however that; “The fact that you cannot spray money at parties does not mean that you cannot put money in an envelope and pass it to the celebrants.” – With agency report