Money Bouguet, Squeeze, Spray, Deface Naira and go to jail as CBN asks Nigerians to report Naira abusers

The Central Bank of Nigeria (CBN) has issued a call to action for all Nigerians to report any abuse of the Naira. The CBN has stated that it is the civic duty of every citizen to protect the Naira and to report any incidents of abuse.

The CBN specifically mentioned five different types of Naira abuse: spray, selling, money bouquet, squeezing, and defacing.

Spraying Naira, which involves throwing money into the air as a form of celebration or demonstration of wealth, is a common occurrence in Nigeria, particularly at events such as weddings and political rallies.

While it may seem like a harmless display of wealth, it is actually a form of Naira abuse as it damages the currency and reduces its lifespan.

Selling Naira is another type of abuse, as it involves exchanging Naira for another currency, thereby affecting the foreign exchange market and weakening the value of the Naira.

Money bouquet, which is the practice of rolling banknotes into a bouquet-like shape and using it as a gift, is also considered abuse, as it can result in the tearing or damaging of the currency.

Squeezing Naira, where banknotes are squeezed or crumpled, is yet another type of abuse that can result in the tearing or damaging of the currency. Finally, defacing Naira, which involves writing on or drawing on the banknotes, is a form of abuse that not only reduces the longevity of the currency but also degrades the image of the nation.

The CBN has emphasized that the protection of the Naira is essential for the stability and sustainability of the economy, and that the abuse of the currency can have far-reaching implications for the nation as a whole.

By reporting Naira abuse, citizens can play their part in safeguarding the value of the Naira and ensuring the stability of the economy.

The CBN’s call to action for Nigerians to report Naira abuse is a significant step towards protecting the currency and maintaining the stability of the economy.

By reporting any incidents of Naira abuse, Nigerians can play their part in safeguarding the value of the currency and ensuring that it continues to serve as a symbol of the nation’s prosperity.