Illegal hawkers have been caught selling new naira notes on the streets. This is a violation of the law and a serious crime, as the Central Bank of Nigeria (CBN) is the only institution authorized to distribute and circulate the country’s currency.
These illegal activities not only undermine the authority of the CBN, but also pose a significant threat to the economy.
The hawkers often charge exorbitant prices for the new notes, which not only harms consumers but also leads to inflation.
Additionally, these illegal activities also enable money laundering and other financial crimes.
The Nigerian government and the CBN have taken measures to combat illegal activities related to currency, such as increasing security measures at banks and other financial institutions.
However, it is important for the general public to also play a role in this fight by reporting any suspicious activities to the authorities.