The Central Bank of Nigeria warned in Abuja on Tuesday that those abusing the naira notes were liable to go to jail.
It warned that the law banning the “spraying’’ and the stepping on the naira notes, especially at social gatherings was still in force and offenders were liable to six months imprisonment or a fine of N50,000.
The News Agency of Nigeria reports that Section 21 (3) of the CBN Act 2007 provides that the mishandling of the naira is a punishable offence.
The Principal Manager, Currency Operations Department at the CBN, Ms Ngozi Etim, gave the warning when she spoke with NAN.
She said the CBN was working with the police, the Federal Inland Revenue Service, the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit to curb the abuse.
She condemned the “spraying’’ of money in public, adding that the envelope remained the best and acceptable means of extending goodwill at events.
“Money should not be squeezed but be put in envelopes. Oil should not be allowed to touch money; keep it neat like you keep your clothes.
“You do not dirty your clothes and you do not keep your clothes on the ground, so, there is need to keep our naira well,’’ she said.
She added that the CBN Act empowered it to arrest those who abused the naira.