• Business
  • Updated: December 08, 2020

Indaboski: Abia State Chief Of Staff Breach CBN Naira Rule, Risk Six Months Jail Term

The Chief of Staff to Abia State Governor, Anthony Agbazuere, risk jail term after committing a felony crime following a breach of Central Bank of Nigeria (CBN) currency rule. Although, Agbazuere has been suspended by Governor Okezie Ikpeazu, he still risk a six months jail term.

AllNews recalls that Agbazuere had been seen in a recorded video spraying money on clergyman, Chukwuemeka Odumeje, who had visited Agbazuere at his office. While the prophet indulged in self-praise with a background music on, Agbazuere received bundle of naira notes from an unnamed person.

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After dividing the bundle of cash in three places, Agbazuere began to spray the naira on Odumeje, popularly known as Indaboski. This act by the Chief of Staff led to the state governor suspending Agbazuere on Monday, December 7, 2020. While the period of the suspension was not made public, AllNews report that suspension won't be the only worry of Agbazuere.

Agbazuere Breached CBN Naira Rule

Spraying of the naira on Indaboski by Agbazuere contravenes Section 21 of the CBN Act 2007, which warned against abuse of naira. The CBN Act stated that tampering with a coin or note issued by the financial regulator and printer of the naira notes will attract imprisonment.

The CBN Act said anyone caught in the act is guilty of an offence, and liable to six months in prison or will be fined NGN50,000 or might get both fine and imprisonment. The CBN explained in the Act that spraying and dancing or matching on the Naira is an abuse or tampering of Nigeria's currency.

(1) A person who tampers with a coin or note issued by the Bank is guilty of an offence and shall on notes and coins imprisonment for a term not less than six months or to a fine not less than N50,000 or to both such fine and imprisonment.

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(2) A coin or note shall be deemed to have been tampered  with if the coin or note has been impaired, diminished or lightened otherwise than by fair wear and tear  or has been defaced by stumping, engraving, mutilating, piercing, stapling, writing, tearing, soiling, squeezing orany other form of deliberate and willful abuse whether the coin or note has or has not been thereby diminished or lightened.

(3) For the avoidance of doubt, spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under Sub-section (1) of this section.

It's left to be seen if the CBN will act against Agbazuere, and implement its Act as the suspension of Agbazuere has confirmed the act took place.

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Olalekan Fakoyejo
Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ)....

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