Naira Notes: Nine Practices That Could Land You In Trouble

In light of Idris Olarewaju Okuneye, popularly known as Bobrisky, being imprisoned on Friday for mishandling the naira, we have compiled a list of nine actions involving the naira that could result in legal repercussions.

Justice Abimbola Awogboro said the sentencing of Bobrisky, a controversial crossdresser, would be a deterrent to others who are found abusing and mutilating the naira.

The Clean Notes Policy of the Central Bank of Nigeria was implemented with the aim of enhancing the visual appeal and durability of the banknotes in circulation, as stated on the official website of the apex bank.

According to the CBN, the objective is to guarantee that the naira banknotes in circulation maintain a high standard of quality, enabling them to be easily processed and accepted by the general public.

Below are the ways you can abuse the naira:

• Spraying: It is illegal to spray banknotes at events.
• Writing: Writing on banknotes is prohibited by law.
• Stapling: Stapling banknotes is prohibited by law due to the potential for corrosion caused by the pins.
• Tearing: Tearing banknotes is also illegal.
• Dancing or stamping on naira: Dancing or stamping on naira banknotes is prohibited by law. Getting oil or ink on the banknotes can be considered a form of defacing.
• Selling: Selling currency banknotes is illegal.
• Mutilation: Anyone caught tampering with the naira note will face legal consequences, as stated in the CBN Act Section 21.
• Rejecting the naira: Rejecting the naira is strictly prohibited by law (Section 20, Subsection 5).

Money bouquets: In February 2023, the CBN also identified money bouquets as a type of naira abuse.

Bobrisky’s Friday sentencing is not an isolated incident.

Earlier in February 2024, actress, Oluwadarasimi Omoseyin, was convicted and sentenced to six months in prison for defacing the naira notes by spraying and stepping on them at a social event in Lagos.

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Source: The PUNCH