Money bouquet is naira abuse, CBN warns Nigerians

The nation's apex bank, Central Bank of Nigeria (CBN), has reminded Nigerians of the kinds of treatments that constitute abuse of the naira.

In a flier shared on its Twitter handle on Friday, February 10, 2023, the CBN listed using any denomination of the naira for money bouquet as an abuse of the nation's currency.

Pulse reports that money bouquet as well as money cake have become a new gift trend among Nigerians.

In addition, the CBN also listed other forms of naira abuse to include spraying, selling, squeezing and defacing.

The apex bank, therefore, urged the citizens to report any abuse of the naira by stating in the the caption of the post that, “It is your civic duty to protect the naira. Report naira abuse today.”

The CBN also rolled out toll-free hotlines that citizens can use to reach it to report such activities.

This comes on the heels of the Independent Corrupt Practices and Other Related Offences Commission (ICPC)'s arrest of an actress and cosmetologist, Oluwadarasimi Omoseyin, over alleged abuse of naira.

The Economic and Financial Crimes Commission (EFCC) had vowed to arraign the 31-year-old actress who was caught in a video spraying and stepping on the newly redesigned naira notes at a party.

Recall that Section 21 (1) of the CBN Act states that “A person who tampers with a coin or note issued by the Bank is guilty of an offence and shall on conviction be liable to imprisonment for a term not less than six months or to a fine not less than N50,000 or to both such fine and imprisonment.”

Acting upon the above mentioned section of the CBN, the EFCC commenced investigation into the actress's matter and had seized a Range Rover and iPhone belonging to her.