What is the position of the Law in Nigeria regarding the Abuse of Naira?
Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) provides 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.”
In a recent case at the Federal High Court Iloyi, Lagos between EFCC Vs Oluwadarasimi Omoseyin , the learned Judge convicted and sentenced the defendant to six months imprisonment for spraying and stepping on the new Naira notes at a social event in Lagos.
Ignorance of the Law, is not an Excuse. Be guided when next you are invited to any social events in Nigeria.
Bala Elkana