Abusing the Naira currency can have some negative effects. It can lead to inflation, economic instability and also devaluation. It can also reduce the confidence and trust of the currency, making it harder to plan and invest. So its important to use the Naira responsibly and also report anytime you see someone abusing the Naira.
The Central Bank of Nigeria (CBN) is responsible for taking legal actions against anyone that abuses the Naira currency. And this policy was instituted to improve the physical appearance and lifespan of the Naira currency. The public should be enlightened on Naira abuse and handling to aid the longevity of the banknotes and reduce the huge cost of processing and banknote replacement.
In this article, I will tell you ways the Naira currency can be abused. So keep reading on.
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Effects Of Abusing The Naira.
- Abusing the Naira is a form of insult to the country.
- Dirty Naira notes is a potential health hazard to the citizens.
- It reduces the sense of pride that Nigerians should feel in their currency.
- Increase in currency management costs due to high cost of banknotes replacement.
People That Were Arrested For Abusing The Naira.
- Bobrisky: The Federal High Court, Lagos. on Friday April 12, 2024, sentenced Idris Okuneye, a.k.a Bobrisky to six months imprisonment over abuse of the Naira notes.
- Cubana Chief Priest: The LAgos Command of the EFCC, on Wednesday, April 17 2024, arraigned a socialite and businessman, Pascal Okechukwu, a.k.a Cubana Chief Priest, on a three- count charge bording on abuse of the Naira.
Ways The Naira Can Be Abused.
The following are some ways the Naira can be abused.
- Writing: Its against the law to write on the Naira notes.
- Spraying: It is against the law to spray the Naira notes at occasions.
- Tearing: It is also against the law to tear the Naira notes.
- Rejection: It is against the law to reject the Naira.
- Sale: It is against the law to sell the Naira.
- Stapling: It is against the law to staple the Naira Notes as the pin can cause corrosion of the Naira notes.
- Soiling: It is also against the law to stamp or dance on the Naira notes.
- Mutilation: It is against the law to tamper with the Naira notes, so anyone that tampers with the Naira notes is guilty of an offence that is punishable by law.
Do not stain the Naira note with oil or ink as it is also against the law.
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