CBN bans spraying of money in parties, those caught will pay fine

 

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The spraying of money at parties has been banned across Nigeria by the CBN, as a new statement alleges that such act bastardizes the national currency, the Naira.

CBN bans spraying of money in parties, those caught will pay 50k fine lailasnews

Central Bank of Nigeria (CBN) spokesman Isaac Okorafor who announced the ban on spraying on money at parties, said those who “spray” naira notes at parties risk going to jail for six months or earning a fine of N50,000 after trial by mobile courts that would be deployed nationwide.

According to him, the police and the Ministry of Justice would be involved in the operation. He said;

“If a celebrant is dancing and you spray him/her, you may go to jail from the party venue because the law enforcement agents will be there, waiting to arrest you.

It is the duty of law enforcement agencies to catch offenders and take them to court. Our collaboration with the police will intensify as we move to implement the mobile court for offenders.”

“If you want to give, put the money in an envelop, and give it the celebrant. Let’s know that anybody hawking and writing on the naira will face six months in jail or N50,000 or both.”

Also commenting on the ban, the Managing Director of First Securities Discount House (FSDH) Merchant Bank Mrs. Handa Ambah added that those who sell the Naira will also be punished.

“We need to let them know that this is money. The fact that you cannot spray money at parties does not mean that you cannot put money in an envelope and pass it to the celebrants.”

Listing ID: 355bb74e349e57c

October 5, 2018 12:49 pm

49 days, 12 hours

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