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Inside Naija-Is Bob Risky case of misuse of the Naira worthy of arrest and prosecution?

Inside Naija

Is Bob Risky case of misuse of the Naira worthy of arrest and prosecution?

Administrator
Thursday 04 April 2024 09:30:01

mutilated-cash
Mutilation of the Naira, which refers to damaging, defacing, or tampering with Nigerian currency, is considered a criminal offense under Nigerian law.

Is Bob riskys case of misuage of the Naira worthy of arrest and prosecution? First lets look at propers ways to hand the Naira

 

To handle the Naira note properly and avoid it being seen as mutilation, here are some guidelines:

1. Handle with clean hands: Ensure your hands are clean and dry when handling Naira notes to prevent transferring dirt, oil, or moisture onto the currency.

2. Avoid folding or creasing: Try to handle Naira notes gently and avoid folding or creasing them, as this can lead to damage over time.

3. Do not write on or deface the notes: Refrain from writing on or defacing Naira notes in any way, including drawing or stamping on them.

4. Avoid tearing or cutting: Never tear or cut Naira notes intentionally, as this constitutes mutilation.

5. Store properly: Store Naira notes in a clean, dry place away from direct sunlight and moisture to preserve their condition.

6. Use currency handling equipment carefully: If using currency counting or sorting machines, ensure they are calibrated properly to avoid damaging the notes.

7. Exchange damaged notes: If you receive or come across damaged Naira notes, exchange them for new ones at a bank or financial institution.

By following these guidelines, you can handle Naira notes responsibly and help prevent them from being considered mutilated.

 

Penalty for Mutilating of the Naira

The penalties for Naira mutilation set by the Central Bank of Nigeria (CBN) can include fines and imprisonment.

Offenders can face fines of up to 50,000 Naira and/or imprisonment for up to six months. These penalties are intended to deter individuals from defacing or destroying the country's currency, which can have negative consequences for the economy, including loss of confidence in the currency and increased costs for replacing damaged notes.


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