Spray Naira Notes, Get Jail Term – CBN
The Central Bank of Nigeria (CBN) has warned once again that anyone who abuses the Naira notes in any part of the country will get a jail term.
This was disclosed on Saturday by its director of Corporate Communications Department, Isaac Okorafor, during one-day interactive session with stakeholders in Owerri.
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According to Okafor, abuse of the Nigerian currency is a big offence which signifies the “abuse of the country’s symbol of sovereignty.”
“We have begun the clampdown on the abuse of naira notes. It is a very big offence to spray our naira notes. It is the symbol of our national sovereignty.
“The law is very clear on it. When you abuse the notes by spraying them, you get a jail term, or a N50,000 fine or both.”
He added, “We have told banks to assemble all the old or mutilated naira notes for reprinting. We have given banks three months to do that.”
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In December 2018, the CBN threatened to arrest and prosecute abusers of the Naira note and also said mobile courts would be deployed nationwide to enforce the law.
