CBN renews campaign against naira abuse

922, naira abuse

The Central Bank of Nigeria (CBN) has renewed its campaign against naira abuse, a programme famous during Chukwuma Soludo’s reign as the apex bank governor.

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The CBN started the campaign renewal on Tuesday in Birnin Kebbi, the Kebbi State capital on Tuesday, and it said the penalties including a fine of N50,000 or six months in imprisonment or both for violation of Section 1 of the Banking Act is still operative.

Spraying of the naira, hawking and mutilation it are punishable under section 21, subsection 1-5 of the CBN Act of 2007.

Speaking at the occasion held at Gwadangaji Mall Conference Hall in Birnin Kebbi, campaign team leader, Alhaji Aliyu Katuka, stated that at the end of the sensitisation forum, participants would go back home to enlighten the general public on dangers of naira abuse.

The participants, according to him, were drawn from financial institutions, associations, clubs members and traders, among others.

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