You Risk Going To Jail If You Spray New Naira Notes — CBN Issues Fresh Warnings

CBN on Tuesday in Abuja issues the warming that the law banning the “spraying’’ and the stepping on the naira, especially at social gatherings is still in force and offenders are liable to six months imprisonment or a fine of N50,000.

The Principal Manager, Currency Operations Department at the CBN, Ms Ngozi Etim, gave the warning when she spoke with the News Agency of Nigeria (NAN).

She condemned the “spraying’’ of money in public, encouraging guests to envelope any monetary gift intended to extend their goodwill at events.

Etim claimed the CBN was working with the police, the FIRS, the EFCC and the Nigerian Financial Intelligence Unit to curb the abuse

“Money should not be squeezed but be put in envelopes. Oil should not be allowed to touch money; keep it neat like you keep your clothes.

“You do not dirty your clothes and you do not keep your clothes on the ground, so, there is need to keep our naira well,’’ she said. According to her, the CBN Act empowered it to arrest those caught abusing the naira.

Also, the CBN’s Director, Corporate Communication, Mr Osita Nwanisobi, urged Nigerians to always treat the naira with care. Nwanisobi further condemned the idea of hurling wads of naira notes in the air and jumping on it at social functions.

“There have also been cases where people mishandle the naira, deface it, or hawk it at parties.

“Contrary to the practice of these unpatriotic persons, it is neither cultural nor moral for people to disrespect the currency, which citizens trade in,’’ he stressed.

Moreover, investigations had revealed that Section 21(3) of the CBN Act 2007 provides that mishandling of the naira is a punishable offence.