In the past weeks, there have been several arrests of Nigerian celebrities over the abuse of the National currency, known as the Naira. This is no surprise because, in Nigeria, abuse of the Naira is considered a criminal offense punishable by law.
The arrest, which also saw the imprisonment of a controversial cross-dresser, Bobrisky, sparked mixed reactions as Nigerians expressed surprise over the ongoing crackdown on celebrities abusing the naira note.
But what does the law say about Naira abuse?
According to the Central Bank of Nigeria (CBN) Act and the Criminal Code Act, it is an offence to hawk, sell, or trade-in 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. Depending on the severity of the offence, offenders can face penalties, including imprisonment.
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The penalty for currency abuse varies depending on the nature and gravity of the offence. Offenders are eligible to face six months to five years imprisonment, along with fines, as stipulated by the Central Bank of Nigeria’s policy and the Criminal Code Act.
This year alone, no fewer than two celebrities who were found wanting have been sentenced to prison for naira abuse.
Bobrisky
Controversial crossdresser, Bobrisky is serving a jail term of 6months without bail. The male Barbie was arrested and then arraigned by the EFCC at the Federal High Court in Lagos for an offence bordering on naira abuse.
He was then remanded to serve his jail term at the Ikoyi Correctional Centre, with the judge ruling that the sentence would commence on March 24, 2024, the day of his arrest.
Bobrisky had pleaded guilty to the four-charge.
Read Also: Naira Abuse: Court Sentences Bobrisky To Six Months In Custody
The cross dresser’ conviction elicited concerns, as many insisted that the sentencing was too harsh. They pointed out other celebrities who are guilty of the same crime but have not been apprehended.
Cubana Chief Priest
Popular Instagram celebrity Pascal Okechukwu, also known as Cubana Chief Priest, was arrested on Tuesday night by the Economic and Financial Crimes Commission (EFCC) for spraying and tampering with the Naira at a social event, which is contrary to the provisions of the Central Bank Act of 2007.
Chief Priest was arraigned on Wednesday on three counts bordering on abuse of Naira. He was alleged to have sprayed a denomination of 500 hundred at a party for two hours while dancing.
The Instagram influencer pleaded not guilty to the charges and was then granted bail of N10 million.
Oluwadarasimi Omoseyin
Nollywood 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.
