Central Bank of Nigeria (CBN) had warned Nigerians against abusing or hoarding the naira. The apex bank made its position known at the launch of a new campaign in Abuja.
Despite the Central Bank of Nigeria’s stance against the mutilation of the naira, the media has obtained a video showing unidentified persons spraying N1000 notes on a singer who was eulogising President Bola Tinubu.
The abuse of the naira occurred in the presence of Tinubu during his official trip to Adamawa State while the musician Rarara was performing.
Previously, the media reported that the Central Bank of Nigeria (CBN) had warned Nigerians against abusing or hoarding the naira. The apex bank made its position known at the launch of a new campaign in Abuja.
The Deputy Governor of Operations, Mr. Bala Bello, who was represented by Dr. Adetona Adedeji, Director of Currency Operations and Branch Management, condemned the practice of spraying money at parties, as well as writing on, folding, tearing, or otherwise mutilating the notes.
He said, “The naira is more than just a means of payment. It represents our national pride, sovereignty, and shared destiny.”
“Unfortunately, careless practices like spraying money at events, tearing or writing on notes, and mutilation destroy its dignity and make it expensive to maintain.”
Prior to the incident, musician Hamisu Sa’id Yusuf, also known as “Hamisu Breaker,” and a Kano-based TikToker, Abubakar Ibrahim, also known as “G-Fresh,” were sentenced to jail terms over abuse of the Nigerian currency.
Their conviction was delivered by Justice S.M. Shuaibu of the Federal High Court sitting in Kano.
The duo were arrested after viral videos surfaced showing them abusing the naira. They were subsequently arraigned by the Kano Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on separate one-count charges, both bordering on abuse of the naira, contrary to Section 21(1) of the Central Bank of Nigeria (CBN) Act, 2007.
According to the EFCC, Abubakar Ibrahim was found guilty of spraying and trampling on N1,000 notes totaling ₦14,000 while dancing in November 2024 at Rahma Sa’idu’s shop in the Tarauni Local Government Area of Kano State.
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