Legally,
⚖️IGNORANTIA LEGIS NON EXCUSAT that is ignorance of the LAW is not an excuse! Henceforth, these are the NINE (9) practices that could land you in trouble as enshrined in Section 20 and 21(5) of CBN Act. These include:👇🏾
1.Spraying; the Banknotes at events / owambe parties/ ceremonies
2.Writing; on the Banknotes (Naira)
3.Stapling; by pining the Banknotes (Naira)
4.Tearing; the Banknotes into pieces
- Dancing / Stamping / Defacing; the Banknotes (NAIRA)
- Selling; the NEW Banknotes at the events
- Mutilation; cutting / damaging the Banknotes (Nara)
- Rejecting; the Banknotes (Naira) as legal tender when transacting commercial activities
- Money Bouquet; by arranging Banknotes as attractive bunch of flowers to be presented as gift in social gathering/ party/ ceremony
Statutorily,
the Clean Notes Policy of the Central Bank of Nigeria was implemented with the aim of enhancing the visual appeal and durability of the banknotes in circulation, as stated on the official website of the apex bank.
Judicially,
and reportedly, In February 2024; Actress Oluwadara Omoseyi was sentenced to Six (6) Months imprisonment BEFORE the Social Media Imfluencer “Bobrisky” Mr. Idris Olanrewaju Okuneye was ALSO sentenced to Six (6) Months imprisonment as a result of NAIRA ABUSE by Honourable Judge Abimbola Awogboro at the Federal High Court on the 13th Day of April 2024
