Naira abuse: Nigerian lawmaker violates central bank act, throws money to residents

A member of the House of Representatives representing Dikwa/Kuduga/Mafa  Federal constituency of Borno State at the National Assembly, Hon Ibrahim Abunna  has violated Central Bank of Nigeria (CBN) Act 2007  which clearly prohibits any form of abuse of the Nigerian currency, as he was seen throwing money at people believed to be his constituents.

Penpushing reports that, the federal lawmaker was seen in a video debasing the Nigerian currency when he visited his constituency as he portrayed his generosity from a balcony ignoring the risk of a stampede as the people struggled to catch the flying naira notes.

The alleged lawless lawmaker in a viral video which was posted on his official Facebook page with the caption “distributing money to thousands”, revealed the ‘beneficiaries’, numbering over 100 , comprised men, women of different age groups, including the elderly struggling to pick the naira notes..

Penpushing  further reports that, Section 21(3,4,5) of the Central Bank of Nigeria (CBN) Act 2007 clearly prohibits any form of abuse of the Nigerian currency and prescribes imprisonment for a term not less than six months or to a fine not less than N50,000 or to both such fine and imprisonment for anyone guilty of spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions.”

“For the avoidance of doubt, spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under Sub-section (1) of this section.

“It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank…

Penpushing also reports that, the law emphasised that “matching” includes spreading scattering or littering of any surface with any naira notes or coins and stepping thereon, regardless of the value, volume, occasion or intent.

Meanwhile, the  lawmaker  as at the time of filing this report kept sealed lip over the ugly development, following torrential comments and condemnation over his act and action considered as uncalled for

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