Again, CBN Warns Against Spraying Naira Notes…Defaulters To Face Jail Term

The Central Bank of Nigeria has once again warned Nigerians against spraying the Naira notes, saying it is punishable by six months imprisonment or N50,000 fine.

Priscilla Eleje, CBN Acting Director Currency Operations, who gave the warning while speaking in Ibadan during the weekend, said it is a crime to spray, sell or mutilate naira notes.

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Eleje, who was represented at the event by Olufolake Ogundero, a deputy director at the apex Bank, urged the people to respect the Naira notes and treat them with pride.

“It is a criminal offence punishable by six months imprisonment or a fine of N50,000 or both to sell, spray or mutilate the banknotes,” she said.

“It is also a criminal offence which attracts five years imprisonment without an option of fine for anybody to counterfeit the naira. Naira is our pride as a country. So respect it.”

The CBN during the weekend held a public sensitization and enlightenment campaign on direct intervention on lower denomination banknotes at Alesinloye market, Ibadan, the Oyo State capital.

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The bank engaged various market associations to encourage traders to change genuine dirty notes for new ones at no cost to the trader.

Ogundero said the exercise has commenced in Abuja and will be extended to other parts of the country.

“The bank has already taken the new measure to Kano, Kaduna and Abuja and also intends to bring it to the south.”

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