CBN Warns Traders against Naira Abuse


CBN Warns Traders against Naira Abuse

The Central Bank of Nigeria on Tuesday began a sensitization programme for market men and women as well as youths, in Ondo State on how to properly operate with commercial banks without any hitch.

The apex bank specifically warned the traders against poor handling of naira notes, saying the law guiding the notes was still subsisting and violation of the laws would attract jail terms.

While addressing the gathering of bank customers, the Assistant Director, Currency Operation Department, CBN, Mr Benedict Maduagwu, said there was a need for the citizens to develop good habit of naira note handling.

Maduagwu, reiterated that anybody caught mishandling naira notes would be jailed for five years with an option of N50, 000 fines.

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