Naira abusers risk six months in jail — CBN

Factual Pursuit of Truth for Progress


The Central Bank of Nigeria (CBN) has cautioned the public against abuse of the country’s currency, describing naira as pride of the nation.

The Principal Manager, Currency Operations Department, Dorathy Onyene, gave this warning on Tuesday at Dora Akunyili Women Development Centre, Awka, Anambra State.

Onyene frowned on the manner Nigerians mutilate, fold, deface and even use the naira as Potter, adding that such could a attract a six-month jail term.

“It is a punishable offence to abuse the naira. Defaulters are liable to six months imprisonment and/or a N50,000 fine.

“Improper handling of the notes, including mutilation, hawking, squeezing and spraying money at events would not be tolerated,” she said while urging Anambra residents to respect and keep the naira clean.

The CBN Director further explained the huge revenue being expended towards printing the notes, which could have been used for infrastructural development.

She regretted the situation where the same people who abuse the naira would not only reject mutilated naira notes but also jealously handle other foreign currencies in their custody carefully.


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