CBN Goes Tough On Naira Notes Sellers, Hawkers

By Kenneth Orusi, Asaba
The Central Bank of Nigeria (CBN), in its determination to rid the country’s currency notes from been abused especially by those who sells and hawk the notes, has vowed to deal with all those involved in the illicit trade.
The apex bank in Nigeria insisited that selling of naira notes is a criminal offence punishable by law.
This was revealed during the programme held Tuesday with the theme: “Promoting Financial Stability and Economic Development”, at Hampton Hotel, Okpanam road, a suburb of Asaba, the Delta State capital.
The Ag Director, Corporate Communication of the apex bank, Mr Okorafor Isaac, who represented the CBN Governor, Mr Godwin Emefiele, said that the bank has shown commitment at discouraging people from hawking the naira notes.
In his words: “the Central Bank of Nigeria is very commitment to making sure that people do not hawk the naira. Hawking and selling the naira on the street is a criminal offence and is punishable under the CBN Act of 2007”.
The Ag Director hinted that stern warning has been sent to the bank’s staff to steer clear from such practice as its consequence are severe sanctions.
“We have made it clear that any of our staff that is caught involved in that practice, that they will be dismissed and we have also made clear to banks that any bank personnel that is caught doing that, will be severely punished”, he stated.
While noting that the bank is a regulator, he said it is the duty of the Nigeria police to enforce the law, saying “we have collaborated with them at different times. We have had raids in Lagos, Abuja, Onitsha, Port Harcourt and Ibadan and we will continue to do that”.
According to him, some defaulters have been caught and their monies confiscated, saying that the prosecution of such people has been ongoing by the police.
He noted that the essence of the programme was to have an interface with Nigerians with better understanding of its operations and have a feedback geared towards solving their problems.
“The Central Bank today is a bank that is people focused. It is focused on the welfare of Nigerians. Every single policy that we undertake in the bank now is underscored and underpinned by the basic welfare of the average Nigerian”, he said.

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