The Central Bank of Nigeria has threatened to prosecute persons caught selling or defacing the naira.
This was according to a statement on Thursday by the bank’s Director of Corporate Communications, Osita Nwanisobi.
In the statement, the CBN expressed concerns over the selling of the new notes, adding that it would work with security agencies to address the issue.
The statement read in part, “The Central Bank of Nigeria has observed, with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions.”
“We wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever,” the bank said.
It noted that Section 21(3) of the CBN Act 2007 (As amended) stipulates that “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 the law by fines or imprisonment or both.”
It added that Section 21(4) states that “It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.”
The bank said it is partnering with the Nigeria Police, Federal Inland Revenue Service, the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit to address the issue of the sale and abuse of new notes in the country.
In other news, Nigerians have been told to blame Governor of the Central Bank of Nigeria, Godwin Emefiele, and not President Muhammadu Buhari for the poor exchange rate of the Naira against the Dollar.
The Assistant Director, Media and Publicity, Tinubu, Shettima Campaign Council, Biodun Ajiboye, made the statement on Thursday while fielding questions on Arise Television’s Morning Show.
He accused Emefiele of being a mole working for the Peoples Democratic Party, PDP, against the All Progressives Congress, APC-led administration, noting former President Goodluck Jonathan appointed him to achieve a particular purpose.
Ajiboye further added that he would have fired him and taken propositions from other people who can manage the exchange rate properly, if he were the president.
He said, ”An institution manages the exchange rate in question and not the Villa. The institution managing it should take the blame for the unprecedented increase or decrease and for the ability to curtail the exchange rate.
”That the exchange rate is ballooning beyond a reasonable doubt is not entirely the fault of the president or the presidency. But at the same time, if I were the president, for instance, and I see, I feel and know that the exchange rate is going beyond reasonable proportion, I probably would ask the CBN governor, is it that you don’t know what to do? Or what exactly is the problem? If he does not give me a good reason, as chief executive, I will fire him and take propositions from other people who can manage the exchange rate properly.
”I personally don’t see any reason why Emefiele should have continued in the office. Emefiele was a PDP appointee; for whatever reason, President Goodluck Jonathan would not have appointed him if he didn’t suit his purpose. Therefore, I can infer rightly that Emefiele was and is PDP.
“His attempt to join APC and his branded vehicles should mean that, at a time, he probably wanted to cross to APC.”
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