The Economic and Financial Crimes Commission (EFCC) has issued a stern warning against the public abuse of the naira, describing actions such as spraying, trampling, and mutilating currency as criminal and unacceptable.
EFCC Chairman Ola Olukoyede made the declaration during a sensitisation event in Lagos, urging Nigerians to discard the belief that such acts are part of the culture. According to him, these practices undermine the integrity of the national currency and are punishable under the law.
He emphasised that the commission will intensify enforcement efforts, especially at social events, to discourage the abuse of currency. A special task force focused on naira misuse and illegal currency trading has also been activated in collaboration with the Central Bank of Nigeria.
Olukoyede further stated that the EFCC remains committed to broader financial reforms, including the recovery of stolen public funds. Some of these recoveries, he said, are being used to support national initiatives such as educational loans and credit schemes.
Calling for public cooperation, he said the protection of the naira’s value and image is not just the responsibility of the EFCC but of every Nigerian.
