Why We Can’t Arrest People For Spraying Naira Notes — CBN

The Central Bank of Nigeria (CBN) has stated that it is not law enforcement that can sanction people for spraying Naira notes at events. The apex bank noted that only law enforcement agencies can sanction violators of its currency or financial rules.

This was disclosed by the acting Director of CBN’s Corporate Communications, Osita Nwanisobi, while representing the CBN Governor Godwin Emefiele at an interactive session with the organised labour in Calabar, Cross River state over the weekend.

The CBN however warned against mishandling, defacing and rough-treating Naira notes as the federal government spends much to print it.

According to Nwanisobi, “CBN is not a law enforcement agency. But we completely frown at such an attitude where the national currency is not accorded its due respect as other nationals do their currencies.”

CBN’s five-year financial policy for 2019 to 2024 was also announced at the event. According to Nwanisiobi, the five-year policy and programmes of the apex bank are people-centred.

“We have churned out an array of economic intervention programmes aimed at impacting the economic well-being of the people.

“We want Nigerians, including smallholder farmers, petty traders, entrepreneurs and industrialists to key in to these programmes instead of staying aloof to doubt.

“We particularly encourage the return to agro-allied businesses instead of all depending on oil.”

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