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Friday, 20 July 2018

Federal Govt Bans Squeezing And Spraying Of Naira Notes At Parties

The Central Bank of Nigeria has decried the growing abuse of the naira through squeezing, selling, spraying at parties and trampling upon while dancing at parties. The apex bank also decried the hoarding of the national legal tender
— especially new notes — by some individuals.

The CBN Governor, Mr. Godwin Emefiele, who raised the alarm, warned that henceforth, anyone caught abusing the naira is liable to six-month imprisonment or a fine of N50,000 or both upon conviction, in accordance with the Bank’s Act of 2007.

Insisting that the naira should be accorded equal respect and dignity with the national flag, the CBN governor explained that the nation spends more than N100 to mint a single N100 note.




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Endy Edeson

@Aunty Sola & Opeyemi: Talks from our leaders is CHEAP but we shouldnt violate the rules because the policy hasnt been well implemented in the past

Bukola Tunde

how is this possible if someone is spraying in the village

Andre Nick

Is that our problem??

Endy Edeson

@Andre: Well, it is also causing issue of high dirty naira notes which lots of people are rejecting in market places

Olatunji Lawal Gbolahan

Some Nigerians just choose to be naive, ignorance. This won't happen abroad especially America we're I stay

Endy Edeson

@Lawal: What the CBN is doing is to re-orientate our minds on how the western world handle currency notes, unlike the we way we do here

Oghene Ochuko

Those who don't spray during parties will be so happy,the show off will stop if this is implemented, but then this is Nigeria

Endy Edeson

@Ochuko: Hahahahaha. That is true. Especially, the hustling people

DjLapel Shizu

How many times are they banding it

Anuforo Osinachi James

They should sack the CBN governor. Why would someone venture into a business where your capital is more than your gain, like more than your gain. Why spend more than 100 naira just to produce a single 100? When your production is much... Abeg.
In Nigeria, what we need and who will need is common sense, people with common sense. Book has not just failed us but disgraced us.

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