Do Not Spray Naira - CBN
The statement from Central Bank of Nigeria (CBN): “The attention of the Central Bank of Nigeria has again been drawn to the activities of persons, who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions.
“There have also been cases where people mishandle the Naira, deface it, hawk the currency at parties and reject the currency in some instances. It should be stated that, contrary to the practice of these unpatriotic persons, it is neither cultural nor moral, for people to disrespect the currency which citizens trade in.
‘’For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that ‘spraying of, dancing or matching on the Naira or any note issued by the bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under the law by fines or imprisonment or both.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
“Accordingly, the Central Bank of Nigeria is collaborating with the Nigeria Police, Federal Inland Revenue Service, the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit to address the unpatriotic practice.”
Please do not spray funds in Nigeria.