Before examining the lessons from the recent incarceration of popular cross-dresser Idris Okuneye, alias Bobrisky, for mishandling the Nigerian Naira, it’s crucial to consider a few points to avoid falling into the same trap.
First…
The Clean Notes Policy of the Central Bank of Nigeria (CBN) aims to maintain the visual appeal and durability of circulating banknotes, as outlined on the apex bank’s official website. This policy ensures that naira banknotes maintain a high standard of quality, facilitating easy processing and acceptance by the public.
Traditionally, spraying money at events has been a prevalent practice in Nigeria, serving as a lively tradition to animate gatherings. The act of showering crisp naira notes on the dance floor symbolizes wealth and status, ingrained in the Nigerian social fabric.
What The Law Says
The Central Bank of Nigeria (CBN) considers the spraying of naira notes as a form of “abusing the country’s symbol of sovereignty.” This stance is reinforced by Section 21 of the CBN Act, which criminalizes tampering with or defacing naira notes.
As per the section:
“A person who tampers with a coin or note issued by the Bank is guilty of an offence and shall on conviction be liable to imprisonment for a term not less than six months or to a fine not less than N50,000 or to both such fine and imprisonment.”
Section 21(3) of the CBN Act explicitly prohibits Nigerians from spraying or throwing the national currency at social gatherings.
It states:
“For the avoidance of doubt, spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever, shall constitute an abuse and defacing of the Naira or such note and shall be punishable under subsection (1) of this section.”
What You Must Keep In Mind
However, it’s important to understand the various forms of naira abuse to avoid legal repercussions:
1. Spraying: It’s illegal to spray banknotes at events.
2. Writing: Writing on banknotes violates the law.
3. Stapling: Stapling banknotes is prohibited due to potential corrosion.
4. Tearing: Tearing banknotes is also illegal.
5. Dancing or stamping on naira: This action is prohibited by law, as it can deface the currency.
6. Selling: Selling currency banknotes is illegal.
7. Mutilation: Tampering with naira notes leads to legal consequences.
8. Rejecting the naira: Rejecting the naira is strictly prohibited by law.
9. Money bouquets: Money bouquets are also considered a form of naira abuse, as identified by the CBN in February 2023.
Before indulging in any activity involving naira notes, it’s essential to reconsider and abide by the legal guidelines to avoid facing the consequences, as exemplified by Bobrisky’s recent ordeal.
Take caution!
