Abuse naira and go to jail, warns

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The Nigerian central bank warned Nigerians on Friday of abusing naira notes.

The apex of the bank said that anyone caught abusing the naira would be prosecuted and, if convicted, was punishable by six months in prison with a N50,000 fine.

Mr. Samuel Shuaibu, the official Department of the CBN currency Operations in Abuja, found it in Calabar, the Cross River State, to launch a "Fair CBN" educating the resident population on the proper use of naira.

The theme of the exhibition was: Promoting Financial Stability and Economic Development.

Shuaibu said the abusive naira abuse is not in line with CBN's policy, adding that perpetrators now are to be arrested and punished.

He said the outreach program was aimed at raising awareness of the need to respect naira, online system transmission, how to recognize counterfeit banknotes, how to access CBN on complaints among others.

He stressed that the Nigerians are more respectful of the US dollar than the naira, saying that the Nigerians must appreciate and value the naira as it serves as a symbol of national identity.

Shuaibu said,

“The naira has suffered abuse from a majority of Nigerians. Today, we find some people spraying the naira in occasions, soiling it, writing on it, squeezing it while others are hawking it.
“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 urged Nigerians to desist from home banking, adding that such money could be gutted by fire outbreak or carted away by criminals.

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