Saturday, 9 December 2017

Disrespect The Naira And Go To Jail - CBN Warns


The Central Bank of Nigeria has warned that anyone caught disrespecting the naira notes risk six months in jail or a fine of N50,000. An official of the apex bank, Samuel Shuaibu, stated this in Calabar, the Cross River State capital, on Friday at a one-day sensitization campaign on the abuse of the naira.



Shuaibu said the abuse of the naira was not in line with the CBN’s policy, adding that offenders would henceforth be arrested and prosecuted. According to him, the awareness programme was also aimed at sensitising the public on online transfer system, how to identify fake currency notes, how to approach the CBN for complaints, amongst others.



Shuaibu lamented the fact that Nigerians accord more respect to the United States Dollar than the naira, saying Nigerians ought to appreciate and value the naira because it serves as a symbol of national identity. He also urged Nigerians to desist from keeping money at home, spraying of the naira, hawking and mutilation, which he said are punishable under section 21, subsection 1-5 of the CBN Act of 2007.

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