IGP Issues Order To Arrest Those Selling Naira Notes

Usman Alkali Baba, the Inspector General of Police (IGP), has mandated the detention and subsequent prosecution of all those involved in the sale or misuse of naira notes produced by the Central Bank of Nigeria (CBN).

According to a statement made by SP Olumuyiwa Adejobi, the police force’s spokesperson, the decision is in continuation of the Federal Government’s strategy and drive to enforce the provisions of the CBN Act, 2007, and dignify Nigeria’s currency.

The IGP issued orders to the Assistant Inspector-General of Police (AIG) in charge of the Force Intelligence Bureau and the Deputy Inspector-General of Police (DIG) in charge of the Force Criminal Investigations Department to put all of the Department’s and the Bureau’s personnel on high alert across the country.

Part of the statement reads: “Police and Commissioners of Police in charge of Police Commands and Formations to carry out full enforcement of the provisions of Sections 20 and 21 of the Central Bank of Nigeria Act, 2007 which criminalizes amongst other things the hawking, selling or otherwise trading, spraying of, dancing or matching on the Naira notes, falsifying or counterfeiting of bank notes, refusal to accept the Naira as a means of payment, tampering with the coin or note issued by the CBN.

“The Inspector-General of Police reiterated the mandate of the Nigeria Police Force to enforce all laws and regulations without any prejudice to the enabling Acts of other security agencies and urged all and sundry to cooperate with the Nigeria Police Force as it brings the long arm of the law to bear upon all violators of the provisions of the CBN Act, and other extant statutes in Nigeria, with a view to having a well-policed society in all ramifications within the country.”

The CBN has given February 10th as the deadline for the exchange of the new Naira notes.

Meanwhile, the naira, both old and new notes, has been very scarce, leading to a Naira black market.