The Central Bank of Nigeria (CBN) has ordered members of the public to stop spraying of naira in the country.
The apex bank warned Nigerians against spraying, hawking, mutilating or counterfeiting Naira currency.
The Director, Corporate Communications Department of the apex bank, Dr. Isa AbdulMumin issued the warning during CBN Fair holding in Lokoja, Kogi state capital.
He urged members of the public to see Naira as our critical symbol of national identity, stressing that the onus lies on them to respect and keep it clean.
CBN in a press release had said it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever.
For the avoidance of doubt, it quoted 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.”
Similarly, Section 21(4) states that “It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.”
CBN stated that its 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