According to the Central Bank of Nigeria (CBN), money bouquets are now a form of naira abuse.
The central bank issued this announcement on Twitter on Friday, while also raising awareness about behaviors that constitute currency misuse.
Other instances of naira abuse included spraying, selling, squeezing, and defacing, according to the report.
Additionally, the CBN urged Nigerians to report instances of naira abuse in the country.
“It is your civic duty to safeguard the Naira,” declared the central bank.
The CBN announced last week that, in concert with other regulatory and law enforcement agencies, it will begin prosecuting naira abusers whose acts violate the law.
The agencies include the Nigerian Police Force, the Federal Inland Revenue Service, the Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit (NFIU).
The section 21 (3) of the CBN Act of 2007 (as amended) states that “spraying, dancing, or matching on the naira or any note issued by the bank during social occasions or otherwise shall constitute an abuse and defacement of the naira or such note and shall be punishable by fines, imprisonment, or both.”
Similarly, section 21 (4) adds, “it shall also be an offense punishable under subsection (1) of this section for any person to hawk, sell, or otherwise deal in naira notes, coins, or any other bank note.”
Therefore, the central bank issued a warning to Nigerians, particularly those attending social events, to stop denigrating the naira or face arrest by law enforcement officials.
In a same spirit, the inspector-general of police (IGP), Usman Alkali Baba, has lately ordered the arrest of those who trade or abuse the naira.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) apprehended a lady on Wednesday for selling fresh naira notes on social media.
