The Central Bank of Nigeria (CBN) has warned that abusing and spraying of Naira notes may get you a jail term.
The apex bank said it has started clamping down on the abuse Naira notes nationwide.
The CBN director of Corporate Communications Department, Isaac Okorafor, made this known on Saturday, June 15, 2019 in Owerri at a one-day interactive session.
Okorafor said the abuse of the naira notes is a crime in Nigeria. He added that spraying the currency amounts to “abusing the country’s symbol of sovereignty.”
He said, “We have begun the clampdown on the abuse of naira notes. It is a very big offence to spray our naira notes. It is the symbol of our national sovereignty”
“The law is very clear on it. When you abuse the notes by spraying them, you get a jail term, or a N50,000 fine or both.”
“We have told banks to assemble all the old or mutilated naira notes for reprinting. We have given banks three months to do that.”
In October 2018, the CBN announced that any Nigerian who sprays Naira notes at parties risks a six-month jail term or a N50,000 fine.
The apex bank also said mobile courts would be deployed nationwide to enforce the law.
Also in December 2018, the CBN threatened to arrest and prosecute Nigerians for abusing Naira notes with the possibility of jail time or an option of fine, if found guilty.