CBN Bans Spraying Of Money In Parties Across Nigeria, Says Violators Will Be Arrested

cbn bans spraying naira parties

CBN Bans Spraying Of Money In Parties Across Nigeria, Says Those Caught Spraying Naira Notes Will Be Arrested

Those who “spray” naira notes at parties risk going to jail, the Bankers Committee warned yesterday.

Mobile courts are to try those bastardising the national currency, it said.

Issuing the warning after its meeting in Lagos, the Bankers Committee said the mobile courts would be deployed nationwide to try those mishandling the currency.

Cantral Bank of Nigeria (CBN) spokesman Isaac Okorafor said the police and the Ministry of Justice would be involved in the operation, adding:

“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.”

Admonishing Nigerians on how to use cash as gift, Okorafor said: “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.”

Managing Director of First Securities Discount House (FSDH) Merchant Bank Mrs. Handa Ambah said people selling naira notes would be punished.

She said: “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.”

11 thoughts on “CBN Bans Spraying Of Money In Parties Across Nigeria, Says Violators Will Be Arrested

  1. This is the greatest joke of the year. You don’t have right,OBJ did that, it did not work out. This is a culture that have been for years and you think you can stop it .Go and use your time and energy on something important.

  2. good move though but really not the main problem facing Nigeria.. let’s start from steady power supply, fix roads or build new ones, build factories to create jobs for the unemployment..
    make life easy for the aging parents
    stop going to the west for medical reasons build the same type of hospital here in Nigeria.

    Fela will be weeping for Nigeria situation wherever he’s now.. He was a prophet!!!
    rest on kuti.

  3. Joke of the year indeed what else do they want person to do.
    Spraying money is the only Nigerian feel big.

  4. A strong argument could be made that whatever the rich feels like doing with their wealth and money, is up to them. They worked for it, they earned it, and if they want to pile up the money and burn it, that’s their prerogative. While this may be a valid argument, the fact remains that the culture of money spraying, is damn barbaric. Accept this or not, it was where the ills of our country evolved. It was the foundation of what became the corruption we are talking about today. Imagine Shina Peller spraying K1 about a .25 of a million in one night. And he is now running for a political office. Imagine people loading money in a spraying machine that keeps spraying monies on an artiste. What a barbaric scene. Imagine how much K1 takes home in a day from a function.
    May be what the buffoons at CBN should be doing is to excuse the sprayer and ask for a Tax Clearance and that of the musician too. Failure to produce one on spot should result into a N 50,000.00 fine or six months in Jail, or both. Yeye people.

  5. It does make sense,but such measures have to be approved by the lawmakers and signed by the President, not CBN. This is another example of our lack of direction; in a democracy, lawmakers will lead not an agency within the system. I know We (yorubas) will make the loudest noise about this because it is our thing. Let the government ban it, it is better to use envelopes than spraying; definitely folks will spend less and senseless parties will ceased.

  6. When this kind of noise comes out from high place like CBN, what they mean in plain terms is that money spraying should be the preserve of the high and mighty and not the meek and lowly. One of the few things that makes Nigerians feel alive still wants to be taken from them. Even the mighty G8 countries cant stop their people from doing that, how much more a country filled with a bunch of psychos as leaders. ABEGI MAKE WE HEAR WORD! Go focus your energy and resources on people making banks to run down while you claim to bail the banks. Rubbish people

  7. Is spraying naira in parties now their problems or they should work on how naira will add value and print more 100 naira notes

  8. Wasiu Ayinde K1 is in trouble he made his fortune through currency spraying at the party. One good thing about this law is, it’s going to slow down those drug pushers, yahoo boy and armed robbers who after doing their despicable job would like to show off by spraying money at the party. If they are unable to spend their illicit money may be will stop the act of criminality.

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