In Nigeria, the abuse of the national currency, the Naira, is considered a criminal offense, punishable under the law. The Central Bank of Nigeria (CBN) Act and the Criminal Code Act provide clear provisions against the abuse and misuse of the Naira.
According to the Central Bank of Nigeria Act, Section 20 and Section 21 explicitly state that it is an offense to hawk, sell, or trade-in the Naira notes, coins, or any other derivative, whether new or old, in public places or otherwise, without the written permission of the CBN. Violation of this provision can lead to prosecution, fines, and imprisonment.
Additionally, the Criminal Code Act, under Section 20, criminalizes the defacing, mutilating, tearing, or destroying of currency notes and coins issued by the CBN. Offenders can face penalties, including imprisonment, depending on the severity of the offense.
The penalty for currency abuse varies depending on the nature and gravity of the offense. Offenders can face imprisonment for terms ranging from six months to five years, along with fines, as stipulated by the Central Bank of Nigeria’s policy and the Criminal Code Act.
Celebrities That Have Been Sentenced In Prison For Naira Abuse
Osun Defender exclusively reports that no fewer than two celebrities have been sentenced to prison for naira abuse. They are;
Nigerian actress, Oluwadarasimi Omoseyin was on Thursday, February 1, 2024, convicted and sentenced to six months imprisonment for spraying and stepping on the new Naira notes at a social event in Lagos.
According to EFCC, she was sentenced and convicted by Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, February 1, 2024.
The statement partly read, “She was first arraigned on February 13, 2023, by the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on two-count charges, to which she pleaded ‘not guilty.’
“She was subsequently granted bail on February 15, 2023.
“One of the court reads: ‘That you, Oluwadarasimi Omoseyin, on the 28th day of January 2023, at Monarch Event Centre, Lekki, Lagos, within the jurisdiction of this Honourable Court, whilst dancing during a social occasion, tampered with the sum of N100,000.00 (One Hundred Thousand Naira) issued by the Central Bank of Nigeria by spraying same in the said occasion and you thereby committed an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007.’”
The statement however revealed that at the resumed hearing on Thursday, Omoseyin, changed her “not guilty” plea to “guilty”, given the overwhelming evidence against her.
Delivering judgment, Justice Aneke sentenced the defendant to six months imprisonment, effective from Thursday, with an option of a N300,000 fine to be paid into the consolidated revenue account of the federation.
Controversial cross-dresser, Idris Okuneye, popularly known as Bobrisky, was on Friday, April 12, 2024, sentenced to six months in jail without the option of a fine.
Justice Abimbola Awogboro of the Federal High Court in Lagos sentenced the controversial cross-dresser for Naira abuse, on Friday.
Awogboro, in his ruling, said Bobrisky’s sentence would serve as a lesson for others about abusing the naira.
He held that “The act of mutilating the Naira notes has become a menace, which has continued to damage the country’s image.
“Enough of people mutilating and tampering with our currencies. It has to stop. His will serve as a deterrent to others.”
Before the judge sentenced Bobrisky, he inquired about the crossdresser’s gender, to which he responded that he was identified as a man.
Bobrisky’s jail term commenced on March 24, the same day as his arrest.
The crossdresser will serve his jail term at the Ikoyi Correctional Centre.
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