Abuse of Naira notes attracts jail sentence – CBN

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The Central Bank of Nigeria, CBN, has reiterated that abusing Naira notes in any form is a criminal offence attracting fine or jail sentence.

CBN Assistant Director at the Currency Operations Departmentt, Aladeen Badajo restated this on Thursday at the commencement of the CBN two-day sensitisation fair held in Abeokuta, the Ogun State capital.

Badajo said the Naira note is a symbol of Nigeria which has been subjected to abuse by way of mutilation, defacing, squeezing and spraying at parties.

He added that the ugly acts are punishable by fine and jail sentence saying, “abuse of the currency attracts a penalty of not less than six months or a fine of not less than N50,000 or both.”

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