9 practices that can lead to abuse of the Naira

The Clean Notes Policy of the Central Bank of Nigeria was implemented to enhance the visual appeal and durability of the banknotes in circulation, as stated on the official website of the apex bank.

Ignorance of the law is not an excuse, so it’s important to understand these nine practices that could land you in trouble under the Clean Notes Policy as enshrined in Sections 20 and 21(5) of the CBN Act. These include:👇🏾

1. Spraying the Banknotes at events / owambe parties/ ceremonies

2. Writing on the Banknotes (Naira)

3. Stamping by pining the Banknotes (Naira)

4. Tearing the Banknotes into pieces

5. Dancing ON / Stamping ON / Defacing the Banknotes (NAIRA)

6. Selling the NEW Banknotes at the events

7. Mutilation cutting/damaging the Banknotes (Nara)

8. Rejecting the Banknotes (Naira) as legal tender when transacting commercial activities

9. Money Bouquet by arranging Banknotes as attractive bunch of flowers to be presented as gifts at social gatherings/parties/ceremonies

Publicly, this is a pro-bono legal enlightenment service courtesy;
©️Olu Olabinjo