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Monday, 10 January 2022

CBN rules broken by tailor


A Nigerian tailor whose name is not immediately known has been seen sewing his customer's cloth with Naira notes. The man was seen with multiple pieces of Naira notes as he stitched them together in a bid to create a dress.

In a viral video shared on Instagram by @instablog9ja, the tailor was seen with freshly minted N500 and N1,000 notes.

Video shows Nigerian tailor sewing cloth with Naira notes
Tailor makes client's dress with Naira notes. Photo credit: @instablog9ja Source: Instagram

It was not known if the Naira notes were counterfeits, but the tailor said:

"As I dey now since morning I dey sew am. How much I go charge am if finish this clothe for him now."

Section 21 of the Central Bank of Nigeria Act forbids any form of mishandling of the Naira. The law says:

"It is against the law to sell currency banknotes. Mutilation: A person who tampers with the Naira note or coin is guilty of an offence, punishable by law."

According to the CBN, it is also against the law to:

"Staple the banknotes as the pins can cause corrosion of the banknotes, to tear the banknotes, to dance/stamp on the Naira banknotes. Do not stain the banknotes with oil or ink, as this is also a form of defacing."

Meanwhile, the Central Bank of Nigeria said it will prosecute anyone seen spraying Naira notes at social events.

In a statement released by the apex bank, it warned that people abusing Naira notes across the country will be seriously dealt with.

According to the bank, it has also entered into an agreement with the Economic and Financial Crimes Commission so as to achieve maximum enforcement of the law.