Home News Mishandle The Naira, Go To Jail – CBN

Mishandle The Naira, Go To Jail – CBN


Akpan Etukudoh Asare

Anyone that mutilates, writes on, squeezes, sprays or generally soil the Nigeria’s currency, the Naira would be arrested, prosecuted and jailed for six months or fined N50,000.

This was disclosed by the Central Bank of Nigeria (CBN) when they held a 2-day sensitisation activity in Calabar on their various financial products available for members of the public. The event was tagged CBN Fair with the theme:

The branch controller of CBN in Cross River State, Mr. Chuks Okorafor said Naira is the face and image of the country but that many people handle it with total disrespect.: Promoting Financial Stability and Economic Development,

He indicated that the apex bank is working seriously at mopping up dirty or torn Naira notes and that the bank has given three months for those with bad and mutilated notes to return them to their banks.

He also said that they are making the cashless policy to be more effective as they will soon reduce much of the currency in circulation.

He said the bank has designed array of initiatives to make more money available for local people to boost their businesses.

He encouraged farmers and entrepreneurs or ordinary people to initiate good ideas to enable them access the different funds they have set aside to empower Nigerians.

He said encouraged Nigerians to always call at the offices of the CBN if they have complaints or issues with their local bankers so that their rights can be addressed.

“We want Nigerians to know that CBN is available for all Nigerians to access information, their rights or know what funds they can access for their benefits.


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