Spray Money At Social Events, Go To Jail, CBN Warns Nigerians

CYRIACUS IZUEKWE

As Central Bank of Nigeria, CBN has warned those spraying naira notes in a party desist or will go to prison,12 women involved in hawking naira notes have been arrested and paraded to end the abuse of currency in the country.

The action taking in Lagos last week by the Central Bank of Nigeria in collaboration with the Nigeria Police, was a major onslaught against naira abusers.

The vendors, who are mainly women, were apprehended in different parts of the metropolis selling naira notes to party lovers and socialites.

The suspects were apprehended during a joint raid carried out by the officials of the Central Bank of Nigeria and operatives of the State Criminal Investigation and Intelligence Department  (SCIID) Panti-Yaba.

The suspects were alleged to involve in the sale of new Naira notes, an offence that contravenes Section 21 of the CBN Act, 2007.

Among the suspects were Fausat Jimoh, Bisoye Oyegbile, Balikis Ajadi, Bisola Amoru, Abidemi Oladejo and Ajoke Suraj, all women.

They were alleged to have engaged in the selling mint notes at social events by one Mr Salami, the Deputy Commissioner of Police (DCP) in charge of State Criminal Investigation and Intelligence Department (SCIID).

He said: “We are clamping down on those abusing our currency. It is an offence to sell Naira notes at social gatherings or any gathering. It contravenes the CBN Act. We arrested six suspects the previous weekend and today (Friday) we have arrested six others.

“We recovered N35, 500 from these suspects but N465, 000 was recovered from those arrested last week.

He said they will be charged to court as soon as possible after the conclusion of investigation.

Salami said investigation would reveal how these suspects come about these new currencies.

“We are going to get to the root of it because the offence is punishable by N50, 000 fine, or six months imprisonment or both.”

He explained that no serious country would allow its currency to be abused in anyway and the CBN is out to enforce the law and we would give them the necessary backings.

An official of the CBN who refused to be named disclosed that the apex bank was targeting its workers and Deposit Money Banks (DMB), as those fueling the illegal trade.

He said aside going after the vendors, the CBN would clampdown on celebrants in whose venues, the Naira merchants are found and from there they will reveal the real targets behind the mint notes.

He stated the main targets are commercial banks and even their bank staff who release this money to these vendors.

“Once these suspects confess and mention their names, we would go after them and also clamp down on Nigerians who organize events and allow those selling Naira notes in their venues,” the CBN officer stated.

One of the suspects, Agadi said low patronage of her hair dressing business pushed her into it.  She claimed that she usually made N200 on each bundle of mint notes.Oyegbile who was arrested at Agbado area of Lagos disclosed that N37, 500 was collected from her, an amount higher than the total recovery on Friday as stated by the police.  She claimed that the enforcers usually stole some of their money each time they came after them.

Asked how she got the notes, Oyegbile said one Abdulahi usually supplied her, adding that some of her colleagues get from banks.