By Our Correspondent
The Central Bank of Nigeria (CBN) has expressed concern over the increasing habit of spraying and mutilating the Naira during social events, warning that the practice damages the nation’s currency and disrespects its value as a national symbol.
In a renewed appeal to the public, the apex bank stated that spraying, squeezing, tearing, and stepping on banknotes at weddings, birthdays, concerts, and other celebratory gatherings continues to destroy the physical quality of the Naira. The Bank noted that this persistent abuse forces the government to spend more money printing replacement notes every year.
The CBN reminded Nigerians that defacing or mishandling the Naira is a punishable offense under the law and urged the public to adopt better ways of giving money during celebrations. These alternatives include using envelopes, digital transfers, or other cashless methods that help preserve the condition of banknotes.
With the festive season approaching, the Bank called on event organizers, community leaders, families, and social groups to help discourage the misuse of currency during ceremonies. It also encouraged citizens to bring worn-out notes to designated banks for proper exchange instead of allowing damaged currency to remain in circulation.
The CBN noted that protecting the Naira is a shared responsibility and that proper handling of the currency reflects respect for the country and its financial system.
