The central bank of Nigeria (CBN) and the Economic Financial Crimes Commission (EFCC), have been enforcing a law that prohibits "spraying" or "throwing" Naira banknotes at social events, including weddings in Nigeria.
This act is considered an abuse of the currency and carries a penalty of a fine or imprisonment. While the practice is a long-standing tradition for some Nigerians to show wealth or celebrate, the government has been cracking down on it.
The Law:
Section 21 of the CBN Act, 2007, prohibits the spraying, dancing on, or marching on Naira notes.
Enforcement:
The EFCC has been actively prosecuting individuals who violate this law.
Penalties:
Violators face imprisonment for a term of not less than six months or a fine not less than ₦50,000 (or both).
Cultural Significance:
Spraying money at weddings and other celebrations is a common practice in Nigeria, often seen as a way to express joy and show affluence.
Reasons for Enforcement:
The CBN and EFCC view the practice as disrespectful to the Naira, which is a symbol of the country's financial stability.
Public Reaction:
Some Nigerians have expressed outrage at the enforcement, arguing that it is a cultural tradition and that the punishment is too harsh, particularly when compared to those who are allegedly siphoning off the nation's wealth.
Shift in Behavior:
There's been a noticeable shift in behavior, with some people now asking for their money to not be photographed or filmed, or putting money in the groom's pockets instead of spraying it.
Alternative Options:
For the wealthy, there's an option to spray foreign currencies like dollars, pounds, or euros, as the law specifically targets the Naira.
