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How to handle the Naira with pride, as CBN says abusers risk six months in jail

The Central Bank Nigeria (CBN) has reiterated that abusing the Naira could lead to six months imprisonment, or a fine or N50,000 or both.

According to Samuel Shuaibu, an official from the Currency Operations Department of CBN, Abuja, who spoke at the commencement of “CBN Fair”, the Apex Bank is sensitizing residents of Calabar, in Cross Rivers State, on how to use and maintain the Naira notes.

The programme is aimed at informing and revealing to the audience how to respect the Naira, identify fake currency, online transfer system and also how to approach CBN for complaints.

“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.”

He bemoaned the fact that Nigerians give more respect to the American dollar than the Naira, while urging Nigerians to value and appreciate the Naira, because of it an identity and symbol of National pride.

CBN started its campaign against the abuse of Naira in 2006, with a slogan “handle the Naira with Pride”.

According to the CBN Act Section 21 Sub-Section 1-5, the following are ways which the Naira can be abused;

It is highly prohibited to spray Naira notes in events and functionaries. Instead it should be in an envelope and presented to whom you wish.

Squeezing the Naira is also an abuse. When notes are stuffed in the pocket, it gets squeezed. CBN advised that notes should be kept in the wallet rather than pockets.

Tearing of notes is also frowned upon.

Stepping on Naira notes too is not allowed. It is like trampling upon the identity of the Naira.

Buying and selling of notes, otherwise known as mints is not permitted.

Writing of any sorts in form of numbers or alphabets on the Naira is not allowed.

*Others include soiling, piercing, engraving and stapling.

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