Similar articles
Advertisement
Create a post to Start Earning on Pejoweb.
Learn how it works

CBN Threatens To Make Nigerians Face Six Months Jail Term For Defacing Naira



Nigerians have again been warned not to deface the country's currency, Naira. The Central Bank condemned the matter Naira is handled by Nigerians who wouldn't accept defaced notes.

Advertisement

The financial regulator's Dorothy Onyene, who works with currency operations department, reiterated the punishment that awaits individuals caught mishandling the country's currency.

Nigerians are known to fold Naira or spray the currency into the air during parties, leading to people stamping their feet on it. To dissuade the culture of defacing the notes in such manner, Section 21 of the CBN Act 2007 was constituted to protect Naira.

Boko Haram regrouping in northeast again, Ndume raises alarm

Persons caught mutilating or defacing the notes will be made to pay a fine of N50,000 or face jail term of six months. However, despite the punishment hanging in the air, curbing the habit of Naira deface has been difficult.

Last year December, Anthony Agbazuere, the Chief of Staff toAbia State Governor, was caught on camera spraying the Naira notes on popular clergyman, Chukwuemeka Odumeje, but he wasn't made to face the law.

CBN Threatens to Make Nigerians Face Six Months Jail Term for Defacing Naira

Woman counting naira notes. Photo: Adetona Omokanye/Bloomberg

Other prominent Nigerians have also been seen defacing the Naira by spraying it, but but the CBN have been less aggressive in enforcing the law against them. But at a recent CBN fair inAnambra State, on Tuesday, Onyene said the apex bank will begin to take action.

“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 spr
Advertisement




Log in to Like & Comment

 6 likes
 
 






winnycool (Basic)   a month ago
Ok


NM01 (Basic)   a month ago
Ok


obinnaibe68 (Basic)   a month ago
Okay


Lordgoody (Basic)   a month ago
Ok


Ndoma (Basic)   a month ago
Ok




Advertisement

Articles that may interest you


Spray Naira Notes, Go To Jail - CBN

Central Bank of Nigeria has condemned the rate at which Nigerians mutilate, deface, squeeze and even spray and sell the naira notes. The apex bank thr...

 


Spray Naira Notes, Go To Jail - CBN

Central Bank of Nigeria has condemned the rate at which Nigerians mutilate, deface, squeeze and even spray and sell the naira notes. The apex bank thr...

 


Mikel Arteta's short-term William Saliba decision is damaging his long-term Arsenal project

Almost 12 months ago to the day Mikel Arteta was appointed as Arsenal manager with a long-term project in mind.No one was under any illusions that the...

 


Student Gets Jail Term For Stealing Mobile Phone

A Jos Upper Area Court in Kasuwan Nama, has on Monday, sentenced Shedrack Wilson, 22, to one year imprisonment for stealing a mobile phone.The Judge, ...

 


A Nigerian In US Gets 34 Years Jail Term For Defrauding Charities, Old People

Babatope Joseph Aderinoye, a Nigerian living in the US, has been sentenced to 34 years in prison for fraudulently obtaining millions of dollars from s...

 

Advertisement

Uploads that may interest you

MARLIAN X ZANKU X DMW HOTTT 💥💥

Amazing by Westlife [Face to Face album 2005].mp3

Change Your Mind by Westlife [Face to Face album 2005].mp3

Colour My World by Westlife [Face to Face album 2005].mp3

Desperado by Westlife [Face to Face album 2005].mp3

Advertisement

Loading...
 
 | 
 | 
Policy
 | 
Pejoweb © 2021