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Saturday, February 11, 2023

CBN cautions Nigerians against making money bouquet, calls it criminal offence 

The apex bank warned that spraying, selling, squeezing, and defacing remains an abuse of the naira.

• February 10, 2023
Money bouquet
Money bouquet

In light of the scarcity of the new naira notes, the Central Bank of Nigeria (CBN) has warned Nigerians against the abuse of the country’s currency. 

In a tweet on Friday accompanied by a flier, the CBN listed money bouquet as a criminal offense in Nigeria. 

This is coming barely a few days that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) arrested an actress, Oluwadarasimi Omoseyin, for allegedly abusing the naira.

Ms Omoseyin, 31, was arrested after a viral video showing her spraying and stepping on the newly redesigned naira notes surfaced online. 

However, the apex bank added that spraying, selling, squeezing, and defacing, is an abuse of the naira. 

“It is your civic duty to protect the naira. Report naira abuse today,” the CBN said in the flier shared on its Twitter handle. 

It, however, provided toll-free hotlines through which the CBN could be reached to report the abuse on the naira. 

Last week, the Economic and Financial Crimes Commission (EFCC), said Ms Omoseyin’s offense contravenes Section 21 of the CBN Act, 2007.

Section 21 (1) of the Act says; “A person who tampers with a coin or note issued by the Bank is guilty of an offence and shall on conviction be liable to imprisonment for a term not less than six months or to a fine not less than N50,000 or both such fine and imprisonment.” 

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