Naira Abuse: 10 Practices that could land you in trouble, Jail

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Following the Friday imprisonment of Idris Olarewaju Okuneye, commonly known as Bobrisky, for naira abuse, Newsclick Nigeria has compiled a list of nine naira-related behaviours that may result in legal penalties.

According to Justice Abimbola Awogboro, the sentencing of Bobrisky, a controversial crossdresser, will serve as a deterrence to others who abuse and mutilate the naira.

The Central Bank of Nigeria introduced the Clean Notes Policy to improve the visual appeal and durability of banknotes in circulation, according to the central bank’s official website.

According to the CBN, the goal is to ensure that the naira banknotes in circulation maintain a high level of quality, allowing them to be easily processed and accepted by the people.

The following are the ways you can abuse the naira.

1. Spraying money is illegal at events.
2. The legislation prohibits writing on banknotes.
3. Stapling banknotes is prohibited by law due of the risk of corrosion caused by pins.
4. Tearing a banknote is also unlawful.
5. Dancing or stamping on naira bills is strictly prohibited by law.
6. Getting oil or ink on banknotes may be termed defacing.
7. Selling cash banknotes is illegal.
8. Mutilation: Anyone caught tampering with the naira note would face legal consequences under Section 21 of the CBN Act.
9. Rejecting the naira is expressly prohibited by law (Section 20, Subsection 5).
10. Money bouquets: In February 2023, the CBN classified money flowers as a kind of naira abuse.