The recent imprisonment of controversial crossdresser Bobrisky for abusing the naira notes has brought renewed attention to the Central Bank of Nigeria’s strict rules around proper handling and use of the national currency. Bobrisky’s sentencing serves as a stark reminder that the CBN is serious about cracking down on any form of naira mutilation or misuse.
According to the CBN’s Clean Notes Policy, the objective is to maintain a high standard of quality for naira banknotes in circulation to ensure they are easily accepted and processed by the public. However, there are several common practices that constitute abuse or mutilation of the naira that could potentially lead to legal consequences.
Based on the CBN Act and recent cases, here are 9 actions involving the naira that you should avoid to stay on the right side of the law:
- Spraying naira notes at events
- Writing on the banknotes
- Stapling naira notes
- Tearing or defacing the currency
- Dancing, stamping or getting oil/ink on the notes
- Attempting to sell currency banknotes
- Any form of mutilation like burning or acid treatment
- Rejecting and refusing to accept legal tender naira notes
- Creating decorative “money bouquets” with the banknotes
In addition to Bobrisky’s case, we’ve recently seen actress Oluwadarasimi Omoseyin sentenced to 6 months in prison for spraying and stepping on naira notes at a party. The CBN has made it clear that such willful abuse will not be tolerated.
While some of these practices like spraying money may seem harmless or just part of the celebratory culture, the laws around currency abuse are strict for good reason. Damaged or mutilated notes have to be pulled from circulation at great cost, putting unnecessary strain on the banking system.
There are also potential security implications, as severely defaced notes could make it easier for counterfeiters to produce fake currency. Rejecting legal tender violates the CBN Act as well.
So whether you’re an entertainer, business person, or just an average citizen, it’s crucial to treat the naira with respect and handle it properly. Simple practices like carefully storing notes and not writing on them can go a long way.
With the CBN demonstrating its commitment to enforcing these laws through prosecutions, the consequences of naira abuse are real. Potential fines and jail time simply aren’t worth the risk, no matter how innocuous the actions may seem.
The naira is not just pieces of paper – it’s the symbol of our national financial sovereignty. Treating it with care and appreciation is a responsibility we all share as Nigerians. A little mindfulness can ensure you stay on the right side of these currency laws.
Reference
Naira notes: Nine practices that could land you in trouble published in Punch By Okiki Adeduyite