The Central Bank of Nigeria (CBN) has again warned Nigerians against abusing or hoarding the naira.
The apex bank stated its position at the launch of a new campaign in Abuja.
The Deputy Governor of Operations, Mr. Bala Bello, who was represented by Dr. Adetona Adedeji, Director of Currency Operations and Branch Management, condemned the practices of spraying money at parties, writing on notes, folding, tearing, or mutilating them.
He further said, “The naira is more than just a means of payment. It represents our national pride, sovereignty, and shared destiny.”
“Unfortunately, careless practices like spraying money at events, tearing or writing on notes, and mutilation destroy its dignity and make it expensive to maintain.”
Several persons in Nigeria have been jailed over naira abuse.
More recently, musician Hamisu Sa’id Yusuf, also known as “Hamisu Breaker,” and a Kano-based TikToker, Abubakar Ibrahim, also known as “G-Fresh,” bagged jail terms over abuse of the Nigerian currency.
Their conviction was delivered by Justice S.M. Shuaibu of the Federal High Court sitting in Kano.
The duo were arrested after viral videos surfaced showing them abusing the naira.
They were arraigned by the Kano Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on separate one-count charges, both bordering on abuse of the naira, contrary to Section 21(1) of the Central Bank of Nigeria (CBN) Act, 2007.
According to the EFCC, Abubakar Ibrahim was found guilty of spraying and trampling on N1,000 notes totaling ₦14,000 while dancing in November 2024 at Rahma Sa’idu’s shop in Tarauni Local Government Area of Kano State.
The charge reads: “That you Abubakar Ibrahim sometime in November, 2024 in Rahma Sa’idu Shop in Tarauni Local Government Area of Kano State within the jurisdiction of this Honourable Court whilst dancing sprayed and matched on 1000 Naira notes denomination totalling ₦14,000 issued by the Central Bank of Nigeria and you thereby committed an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007.”
Similarly, Hamisu Sa’id Yusuf was convicted for spraying ₦30,000 in ₦200 notes during a social event in Hadejia, Jigawa State.