The Central Bank of Nigeria (CBN)—, We can’t sanction spray of Naira notes, we are not a law enforcement agency.

The Central Bank of Nigeria (CBN) has said that it cannot enforce laws against violators of its currency or financial rules. 

Acting Director of CBN’s Corporate Communications, Osita Nwanisobi who represented

CBN Governor Godwin Emefiele at an interactive session with the organized labour in Calabar, Cross River State

over the weekend, warned against mishandling, defacing, and rough-treating the Naira as

the federal government spends much to print it. 

According to Nwanisobi, the people end up bearing the cost of printing the Naira in the long run. He said;

“CBN is not a law enforcement agency”. Furthermore, he said they will completely frown at such an attitude where people do not accord the national currency its due respect as other nationals do their currencies.

The Acting Director of CBN’s Corporate Communications also made the announcement of CBN’s five-year financial policy for 2019 to 2024 at the event. According to Nwanisiobi, the five-year policy and programs of the apex bank are people-centred.

He said; 

“We have churned out an array of economic intervention programmes aimed at impacting the economic well-being of the people.

He also said “We want Nigerians, including smallholder farmers, petty traders, entrepreneurs and industrialists to key into these programmes instead of staying aloof to doubt.

“We particularly encourage the return to agro-allied businesses instead of all depending on oil.”

By Taiyelolu A

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