The Central Bank of Nigeria (CBN) and the Police in Lagos are set to prosecute those who spray the Naira at parties among other abuses.
“It’s a punishable offence for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Central Bank. It is also an offence to spray, dance or match on the Naira note or any note issued by the Central Bank during social occasions,” the Lagos Police Public Relations Department says in a statement issued today.
To kick-start the offensive against Naira abuse, six members of a syndicate involved in illegal currency trafficking were arrested today at Oshodi and Lagos Island areas of the state.
Newsmakersng learnt that the syndicate was smashed in a joint operation by the police and CBN officials.
According to the police, the suspects were caught with N855, 290 in N20, N50 and N200 denominations.
“The suspects have violated Section 21, sub-section (4) of the Central Bank of Nigeria Act, 2007 and shall be brought to justice accordingly,” says the police.
The statement further says, “On a need to know, and for the avoidance of doubt, the law in question makes it a punishable offence for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Central Bank. It is also an offence punishable under the Act to spray, dance or match on the Naira note or any note issued by the Central Bank during social occasions.
“The Command seizes this opportunity to advise the general public to desist from engaging in this illegality as violators shall be made to face the full wrath of the law.”
Meanwhile, police spokesperson, SP Dolapo Badmos today passed the baton of the Lagos State Police Public Relations Officer to a new officer, ASP Olarinde Famous-Cole, who had served as her deputy. 
Famous-Cole signed the statement issued today.
