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Spraying naira doesn't negatively affect economy - Lawyer urges CBN to amend Act

He added that the section of CBN Act 2007 which prohibits the spraying of naira would not add any value to the development of the country.

The CBN frowns at spraying of naira notes.

Edward-Ekpo said this during an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday. He said the section of CBN Act 2007 which prohibits the spraying of naira would not add any value to the development of the country.

He said the amendment became necessary to avoid trampling on the fundamental rights of the people, adding that naira spraying had always been part of our culture. According to him spraying naira does not contribute negatively to the nation’s economy nor does it aggravate inflation.

“So I don’t see how that should be an issue that will lead to the enactment of Section 21 of the CBN Act.

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“During our forefathers when people were engaging in marriages, naming ceremonies and they invited kings, family members and others, they would dance and the people would drop money for the celebrants’’, he said.

This, according to him, is to demonstrate to the community they had contributed to the celebrant’s welfare.

“As far as this has remained the culture of the people over time, I don’t see the need to make a law to stop it’’, he told NAN.

He stated those who drafted the section of the CBN Act that prohibits the spraying of money had yet to convince Nigerians why the law was necessary. He, therefore, urged the national assembly to strike out the section of the law.

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