The Executive Chairman of the Economic and Financial
Crimes Commission, EFCC, Mr. Ola Olukoyede, has called on critical stakeholders
in the anti-graft war to join hands with the Commission in tackling the menace
of Naira abuse in the country.
He made the appeal on Friday, July 18, 2025 2021
during an engagement with critical stakeholders comprising movie
producers, musicians, non-governmental organizations, media, bureau de change
operators and legal practitioners, among others
He said the sensitization programme organized by the
Lagos Zonal Directorate 1 of the EFCC, was a fallout of the increasing spate of
Naira mutilation and abuse in the country.
The EFCC boss described the Naira as not just a
means of exchange, but a profound symbol of national sovereignty and pride.
While emphasizing that the value and integrity of the
Naira directly impacts Nigeria’s economic stability and national image, he
said: “The Naira is a symbol of our sovereignty. How we treat it reflects how
much we respect ourselves as a people”
He also decried the rampant abuse of the Naira at
social functions through practices such as spraying, stamping, and mutilation.
“Over the past year, the EFCC, in collaboration with
the Central Bank of Nigeria (CBN), has intensified enforcement and public
awareness campaigns to combat Naira abuse. These efforts include the
establishment of a Task Force on Dollarization and Naira Abuse, as well as the
prosecution of offenders, including public figures and celebrities,” he said.
Olukoyede also dismissed the popular belief that
spraying Naira, especially at social events, “is a cultural practice”.
According to him, “As a salary earner myself, it is
unimaginable for me to throw my hard-earned income into the air. An offence is
an offence, and ignorance of the law is no excuse,” he said.
“Being a criminal offence under the CBN Act and the
Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Naira abuse
imposes a heavy financial burden on the Central Bank, which expends substantial
resources replacing defaced or mutilated notes.”
He, therefore, urged entertainers, influencers, and
stakeholders in the creative industry to leverage their platforms to promote
the proper handling of the national currency, adding that “In every
performance, let one of your opening lines be a reminder to your fans that
spraying or stamping on the Naira is a crime. We must all rise to defend the
integrity of our currency.”
The anti-graft Czar also used the opportunity the
reaffirm the EFCC’s unwavering commitment to continually support the economic
reform agenda of the Bola Tinubu administration through strategic enforcement,
responsible asset recovery, and public enlightenment.
Speaking further, he revealed that the sum of N100BN
in recovered proceeds of crime had already been committed to flagship
social investment initiatives such as the National Education Loan Fund
(NELFund) and the Consumer Credit Scheme (Credicorp).
He cited cases where recovered assets were used to
fund development projects such as the skill acquisition centre and liaison
office for the NDDC in Bayelsa, and the transformation of a confiscated
property in Kaduna into the Federal University of Applied Sciences, Kachia.
Also speaking, the Director General of the National
Orientation Agency, NOA, Lanre Issa-Onilu, commended the creative industry for
its immense contributions to national development.
He also urged stakeholders in the sector to recognize
and take pride in their far-reaching impact on the nation’s image and values.
According to him, “The abuse of the Naira is not only
unlawful, it is unethical. As citizens, we must embody civic responsibility and
national cohesion. Our actions must align with the National Values Charter.
Values must be our guide in everything we do.”
Issa-Onilu said the NOA’s intervention aligns with its
core mission under the Nigerian Identity Project (NIP) and the National Values
Charter, both of which promote civic responsibility, patriotism, and respect
for national symbols.
“The Naira is not confetti. It is not an accessory for
prestige. It is a national asset that demands respect. When you honour the
Naira, you honour Nigeria,” Issa-Onilu stated.
He further affirmed that the NOA is committed to a
national reawakening and behavioural change campaign.
According to him, “Ongoing efforts include
multilingual media sensitisation, school outreach, market advocacy, and the
deployment of the agency’s AI-powered voice/chat assistant CLHEEAN, which
provides real-time civic information on crime, abuse, health, and patriotism
via www.noa.gov.ng.”
Calling on traditional leaders, religious
institutions, influencers, market unions, and especially the youth to become
champions of national values, the DG emphasized that “This campaign must be
national in scope but local in execution. Everyone has a role to play in
restoring the dignity of the Naira. Let us be the generation that made respect
for our currency fashionable again.”
The sensitization programme, which brought together
key players from the entertainment, financial, and regulatory sectors, is part
of the Commission’s broader campaign to preserve the dignity of the Naira and
uphold Nigeria’s economic values.
Some entertainers, movie producers and directors at
the event include, King Alabi Pasuma, MI, ill Bliss Goretti, Osas
Ighodaro, Pretty Mike, Terry Apala, Mercy Aigbe, Kazim Adeoti, Funke
Bucknor-Obruthe, Anto Lecky, among others
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