• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Abuse the naira and go to jail, CBN warns

Naira

The Matters Press by The Matters Press
December 14, 2022
Reading Time: 2 mins read
0
CBN’s position on ‘composed’ banknotes

The CBN warned in Abuja on Tuesday that those abusing the naira were liable to go to jail.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

It warned that the law banning the “spraying’’ and the stepping on the naira, especially at social gatherings is still in force and offenders are liable to six months imprisonment or a fine of N50,000.

Section 21(3) of the CBN Act 2007 provides that mishandling of the naira is a punishable offence.

Principal Manager, Currency Operations Department at the CBN, Ms Ngozi Etim, gave the warning and said the CBN was working with the police, the FIRS, the EFCC and the Nigerian Financial Intelligence Unit to curb the abuse.

She condemned the “spraying’’ of money in public, adding that the envelope remained the best and acceptable means of extending goodwill at events.

“Money should not be squeezed but be put in envelopes. Oil should not be allowed to touch money; keep it neat like you keep your clothes.

“You do not dirty your clothes and you do not keep your clothes on the ground, so, there is need to keep our naira well,’’ she said.

She added that the CBN Act empowered it to arrest those who abused the naira.

Etim stressed that the naira remains the pride of the nation and must be kept clean at all times.

In his remarks, CBN’s Director, Corporate Communication, Mr Osita Nwanisobi, urged Nigerians to always treat the naira with care.

Nwanisobi condemned the idea of 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, or hawk it at parties.

“Contrary to the practice of these unpatriotic persons, it is neither cultural nor moral for people to disrespect the currency, which citizens trade in,’’ he stressed.

There have been videos of famous Nigerians, including politicians, subjecting the naira to abuse.

Naira notes have also become items of trade at garages and motor parks in different parts of the country, especially during festive periods.

The CBN has, however, declared that anybody caught abusing the naira would be punished.

Tags: Naira
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Dangote Refinery to rescue Nigerians from sleeping in fuel stations

CSO seeks $500m support to Dangote refinery to end fuel subsidy

Trading in Nigerian stock market dips further N83bn

NGX congratulates CSCS on 25th anniversary

Recommended Stories

Food shortage: Nigeria bans foreigners from direct purchase of produce from farmers

Nigeria’s post-harvest loses hit N3.5trn annually

August 12, 2022
Coronavirus hits hard as China records 811 deaths

China`s policy bank establishes special loan for development – Official

March 28, 2023
Onyema, Air Peace CEO faults  U.S

Air Peace sacks 69 pilots, cut wages

August 3, 2020

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us