[News] We can’t sanction spray of Naira notes, we are not a law enforcement agency — CBN

The Central Bank of Nigeria (CBN) has said that it cannot enforce laws against violators of its currency or financial rules.

 

Acting Director of CBN’s Corporate Communications, Osita Nwanisobi who represented CBN Governor Godwin Emefiele at an interactive session with the organised labour in Calabar, Cross River state over weekend, warned against mishandling, defacing and rough-treating the Naira as the federal government spends much to print it.

 

According to Nwanisobi, the cost of printing the Naira is usually borne by the people in the long run. He said;

 

“CBN is not a law enforcement agency. But we completely frown at such an attitude where the national currency is not accorded its due respect as other nationals do their currencies.”

 

CBN’s five year financial policy for 2019 to 2024 was also announced at the event. According to Nwanisiobi, the five-year policy and programmes of the apex bank are people-centred.

 

He said;

 

“We have churned out an array of economic intervention programmes aimed at impacting the economic well-being of the people.

“We want Nigerians, including smallholder farmers, petty traders, entrepreneurs and industrialists to key-in to these programmes instead of staying aloof to doubt.

“We particularly encourage the return to agro-allied businesses instead of all depending on oil.”