The Judge presiding over Bobrisky’s case issues a warning to the public in light of the legal proceedings against him.
Justice Abimbola Awogboro highlights the verdict against Bobrisky as a cautionary example for those considering mishandling and defacing the naira.
The Central Bank of Nigeria’s Clean Notes Policy aims to enhance the visual appeal and durability of circulating banknotes nationwide. This policy emphasizes the necessity of maintaining stringent quality standards to ensure the currency’s visual appeal and durability. The central bank aims to foster confidence in the reliability and trustworthiness of the Nigerian currency through these initiatives.
Enhancing the visual appeal and durability of circulating banknotes is crucial for fostering widespread acceptance and usage among the populace. The Clean Notes Policy aims to ensure a positive user experience by upholding superior quality standards in currency transactions. Maintaining superior currency quality not only improves its perception but also fosters a seamless monetary system, vital for economic activities.
Furthermore, the implementation of the Clean Notes Policy aligns with broader objectives of promoting financial stability and bolstering the integrity of the Nigerian financial system. By ensuring that banknotes meet stringent quality criteria, the central bank aims to mitigate risks associated with counterfeit currency and maintain the integrity of monetary transactions. In doing so, the policy plays a pivotal role in safeguarding the nation’s economic well-being and fostering an environment conducive to sustainable growth and development.
Below are nine actions against naira note that incur legal actions:
- Spraying: It is illegal to spray banknotes at events.
- Writing: Authorities prohibit writing on banknotes.
- stapling: Due to the potential corrosion caused by pins, authorities prohibit stapling banknotes.
- Tearing: Tearing banknotes is also illegal.
- Dancing or stamping on naira: Prohibiting dancing or stamping on naira banknotes aims to prevent their defacement, as such actions can compromise their integrity.
- Selling: Selling currency banknotes is illegal.
- Mutilation: Tampering with naira notes, such as defacing them, carries legal consequences.
- Rejecting the naira: Law strictly prohibits the rejection of the naira.
- Money bouquets: The CBN identifies creating money bouquets as a form of naira abuse.
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