CBN warns against abuse of Naira, threatens jail term
The Central Bank of Nigeria has condemned the rate at which Nigerians abuse Naira notes.
The apex bank threatened that the abuse of the currency attracts a penalty of not less than six months imprisonment or a fine.
An Assistant Director at the Currency Operations Department, Aladeen Badejo, said this in Thursday during a commencement of the CBN two-day sensitization fair in Abeokuta.
The programme was created to create awareness about CBN activities in relation to economic development initiatives.
Badejo urged the people to consider Nigeria’s currency as a symbol of national identity.
He expressed concern at the manner Nigerians mutilate, deface, squeeze and even spray and sell the naira notes, noting that, “.abuse of the currency attracts a penalty of not less than six months or a fine of not less than N50,000 or both”.
The Acting Director, Corporate Communications Department, CBN, Osita Nwanisiobi said the programme has become necessary to enable the bank acquaint the public with its economic development initiative and to explain the opportunities available and how every citizen would take advantage of them.