#Obscurelegalfacts By Arome Abu

PENALTY FOR SPRAYING THE “NAIRA” DURING SOCIAL EVENTS.

In Nigeria, it is an offense to spray or match on the Nigerian Naira or any note issued by the Central Bank during social occasions.

PENALTY
-Six (6) months Imprisonment or
-Fine of not less than 50,000 or both.

See section 21 of the Central Bank of Nigeria Act.

In October 2018,the CBN proposed to surreptitiously plant undercover Law Enforcement Agents at weddings and other social occasions to arrest and prosecute offenders on the spot through mobile courts, however, till date, no arrest or prosecution has been recorded on this account. Infact, gun-like money spraying machines have now been evolved to make the act of money spraying more thrilling.

Arome Abu is the Managing Partner of Abu & Olaniyan Partners.

CAVEAT: Note that this information is provided for general enlightenment purposes and is not intended to be any form of legal advice.

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