“Abuse naira and go to six months jail” – CBN Warns Nigerians

The Central Bank of Nigeria has warned Nigerians that anyone caught abusing the Naira would be prosecuted and if convicted, the person risked six months in jail or fine of N50, 000.

CBN Warns Nigerians

This was disclosed in Calabar, Cross River State on Friday by Mr. Samuel Shuaibu, an official of the Currency Operation Department of the CBN in Abuja, during the commencement of a “CBN Fair” to sensitize campaign for residents in the state on the appropriate use of the Naira.

Shuaibu said that 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 aimed at sensitising the public on the need to accord respect to naira, online transfer system, how to identify fake currency notes, how to approach the CBN for complaints amongst others.



He lamented the fact that Nigerians accord more respects to the American Dollar more than the naira, saying that Nigerians ought to appreciate and value the naira because it serves as a symbol of national identity.

He said:

“The naira has suffered abuse from a majority of Nigerians. Today, we find some people spraying the naira in occasions, soiling it, writing on it, squeezing it while others are hawking it.
The CBN spent a lot of money in the printing of this naira notes. We urge Nigerians to respect the naira and value it. Anyone caught abusing the naira will risk a jail term of six months or pay a fine of N50, 000.”