…BDC operators, others in Lagos
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has urged stakeholders in Nigeria’s creative, financial, and media sectors to join hands with the anti-graft agency in tackling the menace of Naira abuse across the country.
The call was made on Friday, during a sensitisation engagement organised by the Lagos Zonal Directorate 1 of the EFCC, which brought together movie producers, musicians, non-governmental organisations, bureau de change operators, legal practitioners, and journalists.
This was contained in a statement signed by Dele Oyewale, Head of Media and Publicity for the EFCC.
The statement read partly, “The Naira is a symbol of our sovereignty. How we treat it reflects how much we respect ourselves as a people.
“Over the past year, the EFCC, in collaboration with the Central Bank of Nigeria (CBN), has intensified enforcement and public awareness campaigns to combat Naira abuse. These efforts include the establishment of a Task Force on Dollarization and Naira Abuse, as well as the prosecution of offenders, including public figures and celebrities.”
Olukoyede dismissed the notion that spraying Naira at social functions is a cultural practice.
“As a salary earner myself, it is unimaginable for me to throw my hard-earned income into the air. An offence is an offence, and ignorance of the law is no excuse,” the statement added.
On the economic impact of Naira abuse, Olukoyede said: “Being a criminal offence under the CBN Act and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Naira abuse imposes a heavy financial burden on the Central Bank, which expends substantial resources replacing defaced or mutilated notes.”
He urged entertainers and influencers to leverage their platforms to promote the proper handling of the national currency. “In every performance, let one of your opening lines be a reminder to your fans that spraying or stamping on the Naira is a crime. We must all rise to defend the integrity of our currency,” the statement noted.
The EFCC boss further reaffirmed the Commission’s commitment to supporting the economic reform agenda of President Bola Tinubu’s administration through strategic enforcement, asset recovery, and public enlightenment.
He disclosed that N100 billion in recovered proceeds of crime has already been committed to social investment initiatives such as the National Education Loan Fund (NELFund) and the Consumer Credit Scheme (Credicorp).
Also speaking at the event, the Director General of the National Orientation Agency (NOA), Lanre Issa-Onilu, described Naira abuse as both unlawful and unethical.
“The Naira is not confetti. It is not an accessory for prestige. It is a national asset that demands respect. When you honour the Naira, you honour Nigeria,” the statement quoted him as saying.
Issa-Onilu emphasised the importance of behavioural change campaigns and called on traditional leaders, influencers, and market unions to join in promoting respect for national values.
“This campaign must be national in scope but local in execution. Everyone has a role to play in restoring the dignity of the Naira. Let us be the generation that made respect for our currency fashionable again,” he added.
The event was attended by several entertainers and industry stakeholders, including King Alabi Pasuma, MI Abaga, Ill Bliss Goretti, Osas Ighodaro, Pretty Mike, Terry Apala, Mercy Aigbe, Kazim Adeoti, Funke Bucknor-Obruthe, and Anto Lecky, among others.
