In the wake of the recent imprisonment of Idris Olarewaju Okuneye, better known as Bobrisky, for his involvement in naira abuse, NAIJAUPDATE brings forth a comprehensive guide outlining nine practices concerning the handling of naira notes that could potentially lead to legal repercussions.
This elucidation comes in the aftermath of Justice Abimbola Awogboro’s sentencing of Bobrisky, a contentious figure known for his cross-dressing persona, with the aim of serving as a deterrent to others who may be inclined towards similar acts of currency abuse and mutilation.
At the heart of these legal considerations lies the Clean Notes Policy instituted by the Central Bank of Nigeria (CBN), a directive aimed at enhancing the visual appeal and durability of the currency circulating within the economy.
As articulated on the apex bank’s official website, this policy underscores the importance of maintaining a high standard of quality for naira banknotes to ensure seamless processing and acceptance by the public.
Outlined below are nine actions involving the handling of naira notes that are expressly prohibited by law:
- 1, Spraying: The act of spraying banknotes at events is deemed illegal and subject to legal consequences.
- 2, Writing: Any form of writing on banknotes is strictly prohibited by law.
- 3, Stapling: The practice of stapling banknotes is forbidden due to the potential for corrosion caused by the pins.
- 4, Tearing: Deliberate tearing of banknotes is considered a violation of the law.
- 5, Dancing or stamping on naira: Engaging in activities such as dancing or stamping on naira banknotes is strictly prohibited, as it can lead to defacement and subsequent legal ramifications.
- 6, Selling: The buying or selling of currency banknotes is illegal under Nigerian law.
- 7, Mutilation: Tampering with naira notes in any form constitutes mutilation and is punishable by law, as outlined in the CBN Act Section 21.
- 8, Rejecting the naira: Refusing to accept the naira as a form of payment is strictly prohibited under Section 20, Subsection 5 of the law.
- 9, Money bouquets: The creation or use of money bouquets, identified by the CBN as a form of naira abuse, is prohibited.
The sentencing of Bobrisky and other individuals, such as actress Oluwadarasimi Omoseyin, earlier in February 2024, serves as a stark reminder of the legal ramifications associated with flouting these regulations.
Omoseyin’s conviction for defacing naira notes by spraying and stepping on them at a social event in Lagos underscores the seriousness with which the authorities approach cases of currency abuse.
In conclusion, adherence to the stipulated guidelines regarding the handling of naira notes is imperative to avoid legal entanglements and contribute to the preservation of the integrity of Nigeria’s currency.
