Nigerian news All categories All tags
N50K fine or 6 months jail term for spraying naira notes at parties

N50K fine or 6 months jail term for spraying naira notes at parties

- The Bankers Committee has warned those who spray naira notes at parties

- The committee said the mobile courts would be deployed nationwide to try those mishandling the currency

- The CBN spokesman, Isaac Okorafor, said the police and the ministry of justice would be involved in the operation

The Bankers Committee on Thursday, October 4, declared that mobile courts are now to summarily try those bastardising the national currency, the naira.

News Agency of Nigeria (NAN) reports that the committee said those who “spray” naira notes at parties risk going to jail for six months or earning a fine of N50,000 after trial by mobile courts that would be deployed nationwide.

Cantral Bank of Nigeria (CBN) spokesman Isaac Okorafor said the police and the ministry of justice would be involved in the operation, adding: “If a celebrant is dancing and you spray him/her, you may go to jail from the party venue because the law enforcement agents will be there, waiting to arrest you.

READ ALSO: APC releases names of 24 approved governorship candidates (full list)

“It is the duty of law enforcement agencies to catch offenders and take them to court. Our collaboration with the police will intensify as we move to implement the mobile court for offenders.”

Admonishing Nigerians on how to use cash as gift, Okorafor said: “If you want to give, put the money in an envelop, and give it the celebrant.

Let’s know that anybody hawking and writing on the Naira will face six months in jail or N50,000 or both.”

PAY ATTENTION: Read the news on Nigeria’s #1 new app

Managing Director of First Securities Discount House (FSDH) Merchant Bank Handa Ambah said people selling naira notes would be punished.

She said: “We need to let them know that this is money. The fact that you cannot spray money at parties does not mean that you cannot put money in an envelope and pass it to the celebrants.”

Meanwhile, Legit.ng had reported that the presidency said it has evidence that the the CBN got specific instruction to ensure about N100 billion was moved from the bank directly to the residence of former President Goodluck Jonathan.

The report quoted an unnamed presidency source as saying compelling details have shown how several tranches of funds were illegally moved from the public by the Jonathan’s administration specifically ahead of the 2015 presidential elections.

According to the reported source, the former National Security Adviser (NSA), Sambo Dasuki, personally supervised the physical transfer of the money from the CBN vaults to the private residence of the former president.

Can 1 Naira ever become 1 US dollar again on the Forex market? - on Legit.ng TV:

Subscribe to watch new videos

Source: Legit.ng

Mailfire view pixel