The Central Bank of Nigeria has condemned the rate at which Nigerians mutilate, deface, squeeze and even spray and sell the naira notes.
The apex bank threatened that “abuse of the currency attracts a penalty of not less than six months or a fine of not less than N50,000 or both.”
An Assistant Director at the Currency Operations Department, Aladeen Badajo said this on Thursday during the commencement of the CBN two-day sensitisation fair held in Abeokuta.
The program was meant to create awareness about its activities concerning economic development initiatives.
In his presentation, Badejo urged the people to consider Nigeria’s currency as a symbol of national identity.
Badejo who stressed the need to handle the banknotes with care and dignity expressed concern over the huge amount being spent on reprinting them.
He said,
“Abuse of the currency attracts a penalty of not less than six months or a fine of not less than N50,000 or both.”
THE EFFECT OF THIS MOVE
Money Spraying symbolizes a showering of happiness, good fortune, and a display of the guest’s affection for one who invited them.
Nigeria is a country that loves partying, and of the ways we enjoy it is spraying money.
Hardly will you see a party from a Yoruba or Igbo, even Hausas, and all the tribes having a party, be it a naming, burial party, and weddings without people spraying money.
Aside from this, Fuji artistes and other live performing artistes earn more from this act and they tend to charge less sometimes because they know they will earn more money on stage.
We also have people who sell naira notes at parties, in which they earn too, so this act has already become a business on its own, and banning it will surely affect some businesses.
Nigeria is still a developing country and our culture and way of life are some of the reasons why we stand out.
Just imagine a party without getting to spray money…
