Africa Business News of Sunday, 14 May 2023
Source: www.ghanaweb.live
2023-05-14Spraying cash a form of currency abuse - Nigeria central bank lists others
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The case of money spraying by a parliamentary aspirant has caught the eyes of the Ghana Police Service.
They have announced that a team of experts are looking into the conduct of the National Democratic Congress (NDC) aspirant Juliana Kinnan Wassan during the May 13 primaries.
The last time the central bank issued a warning about abuse of the
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The BoG official who spoke at the time cited the Currency Act, 1964 which addresses among others using the banknotes or coins for reasons aside what they are meant for.
In the case of Nigeria, however, the Central Bank of Nigeria, in February 2023 gave directives via social media as to which actions with the Naira constitutes abuse.
CBN listed as instances of abuse of the Naira; spraying, selling, squeezing, and defacing.
The apex bank, therefore, urged Nigerians to report persons abusing the Naira by calling its toll-free hotline 08000200200.
“It is your civic duty to protect the Naira. Report Naira abuse today.#StopNairaAbuse #RespectTheNaira #BePatriotic,” the apex bank tweeted.
