Popular Human rights activist and founder of One Love Foundation, Chief Dr Patrick Osagie Eholor has called on the Central Bank of Nigeria to March action with words by arresting and prosecuting individuals who mutilate, deface, sell or subject naira notes to all kinds of abuse.
Eholor spoke on the premise that Nigerians have developed a very dangerous culture of incessant abuse of the naira. Eholor expressed disappointment that the nation’s apex bank has always warned Nigerians not to abuse the naira and, despite warnings of disciplinary action, no one has ever been arrested or prosecuted.
He said “The Nigerian currency has endlessly been abused at public functions such as burial ceremonies, weddings, birthdays, or any social events.
“I, Chief Dr. Patrick Osagie Eholor otherwise known as Ultimate Equal, wonder why the federal government through the Central Bank of Nigeria has been quiet about the unwholesome act and continuous abuse of the naira.
“According to Section 21 of the CBN Act, 2007, a person who tampers with a coin or note issued by the apex bank risks imprisonment for a term not less than six months or a fine not less than N50,000 or to both.
“It’s sad that the law has been docile and has not been implemented.
“Failure of CBN to enforce the 2007 Act of the bank has continued to embolden the abusers of the naira in social gatherings.
“Most worrisome, the Nigerian Naira is now a commodity often sold at marriages and funeral ceremonies.
“I call on Nigerians to respect the country’s currency at all times.
I also call out financial institutions for their corrupt practices, and I tag some of their bankers Cooperate Criminals, having agents that act as vendors of the Currency in Parties and events.
“I call on The Buhari-led federal government and the CBN Governor to wake up to their responsibility by prosecuting those found culpable of abusing the Nigerian currency.
“Abuse the naira and go to jail. I am sure Nigerians have not forgotten that there were some money that was mutilated and taken away from circulation but top senior bank officials who are cooperate criminals brought the money back to the bank and reissued them into circulation as we speak.
“We cannot allow people like these to get away with the murder of our national pride.
“Unfortunately, my country Nigeria has become the only country in the world that people will steal an areoplane and vessel in broad daylight. I am appealing that this criminality must stop. People now do it indiscriminately in the presence of our law enforcement police offiers.
The Central Bank of Nigeria, and all its agencies should as a matter of urgency do a public announcement
That anybody who is trading or sells Nigerian currencies for people to use and spray at parties should be arrested and prosecuted according to law. You cannot mutilate our currency or sell it, or destroy it. Anyone doing this should be jailed.
Recall that the CBN has consistently warned Nigerians against abuse of the naira notes.
In December 2022, the CBN had issued a warning to Nigerians against abuse and defacing of the naira, at rh risk of going to jail.
It had warned that the law banning the “spraying’’ and the stepping on the naira notes, especially at social gatherings was still in force and offenders were liable to six months imprisonment or a fine of N50,000.
Section 21 (3) of the CBN Act 2007 provides that the mishandling of the naira is a punishable offence.
The Principal Manager, Currency Operations Department at the CBN, Ms Ngozi Etim, gave the warning.
She said the CBN was working with the police, the Federal Inland Revenue Service, the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit to curb the abuse.
She condemned the “spraying’’ of money in public, adding that the envelope remained the best and acceptable means of extending goodwill at events.
“Money should not be squeezed but be put in envelopes. Oil should not be allowed to touch money; keep it neat like you keep your clothes.
“You do not dirty your clothes and you do not keep your clothes on the ground, so, there is need to keep our naira well,’’ she said.
She added that the CBN Act empowered it to arrest those who abused the naira.
Etim stressed that the naira remained the pride of the nation and must be kept clean at all times.
Also speaking, CBN’s Director, Corporate Communication, Mr Osita Nwanisobi, urged Nigerians to always treat the naira with care.
Nwanisobi condemned the idea of hurling naira notes in the air and stamping on the currency at social functions.
“There have also been cases where people mishandle the naira, deface it, or hawk it at parties.
“Contrary to the practice of these unpatriotic persons, it is neither cultural nor moral for people to disrespect the currency, which citizens trade in,’’ he stressed.
There have been videos of famous Nigerians, including politicians, subjecting the naira to abuse.
Naira notes have also become items of trade at garages and motor parks in different parts of the country, especially during festive periods.
The CBN has, however, declared that anybody caught abusing the naira would be punished.
Unfortunately, no single action has ever been taken to that effect.
This message is brought to you by Chief Dr Patrick Osagie Eholor, otherwise known as Ultimate Equal, President One Love Foundation.
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