The Central Bank of Nigeria(CBN) has named money bouquets and other practices as an abuse of the naira currency warning Nigerians to desist from the act.
The apex bank said this in a tweet on Friday. It also listed spraying, selling, squeezing, and defacing as other forms of currency abuse.
It is your civic duty to protect the Naira. Report Naira abuse today.#StopNairaAbuse #RespectTheNaira #BePatriotic pic.twitter.com/CN4SZuIEUT
— Central Bank of Nigeria (@cenbank) February 10, 2023
This is coming days after the CBN issued a similar warning, saying it would start the prosecution of naira abusers.
In a statement, the CBN said it is working with security and regulatory agencies to enforce the move.
It quoted Section 21 (3) of the CBN act 2007 (as amended) as saying 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”.
