Nigeria’s Apex bank, the Central Bank of Nigeria, has condemned the rate at which Nigerians mutilate, deface, squeeze and even spray and sell the naira notes, particularly at social functions.
The CBN threatened that “abuse of the currency attracts a penalty of not less than six months or a fine of not less than N50,000 or both.”
An Assistant Director at the Currency Operations Department, Aladeen Badajo said this on Thursday during the commencement of the CBN two-day sensitisation fair held in Abeokuta.
The programme was meant to create awareness about its activities in relation to economic development initiatives.
He urged the people to consider Nigeria’s currency as a symbol of national identity.
Badejo who stressed the need to handle the banknotes with care and dignity, expressed concern over the huge amount being spent on reprinting them.
He said, “Abuse of the currency attracts a penalty of not less than six months or a fine of not less than N50,000 or both.”
