The Central Bank of Nigeria (CBN) has launched a nationwide campaign against naira abuse, warning that offenders risk fines of up to ₦50,000 or six months’ imprisonment.
According to the apex bank, practices such as spraying the naira at parties or mutilating notes in markets undermine public confidence, shorten the lifespan of the currency, and cost the nation billions of naira in reprints.
Officials stressed that the sensitization drive will be taken across the country to remind Nigerians that respecting the naira is crucial to protecting both the economy and the nation’s identity.
