EFCC Chairman Declares Spraying of Naira a Criminal Offence, Not Culture

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has warned Nigerians, that the act of spraying naira notes at social events should not be mistaken for a cultural practice but is in fact a punishable criminal offense under Nigerian law.

Speaking during a stakeholder engagement in Ikoyi, Lagos, Olukoyede emphasized that the abuse of the naira in any form—including spraying, stamping, or mutilating—is a violation of the Central Bank of Nigeria (CBN) Act and attracts legal penalties.

Olukoyede’s remarks come as part of a wider national campaign to restore respect for the naira, which has suffered significant devaluation in recent years.

According to him, the EFCC is not just targeting celebrities or high-profile individuals but intends to hold all citizens accountable for acts that undermine the country’s currency.

“Spraying money is not part of our culture. It is an act of disrespect to our national currency, and the law is clear on that,” he stated firmly.

Under the CBN Act, anyone found guilty of mishandling the naira could face up to six months imprisonment, a fine of ₦50,000, or both.

The EFCC chairman disclosed that over 200 cases of naira abuse are currently being prosecuted across various courts in the country, with at least 24 convictions secured in the past year alone. Notably, social media personalities like Bobrisky, Cubana Chief Priest, and Nollywood actress Oluwadarasimi Omoseyin have faced legal action for their involvement in naira spraying at events.

Olukoyede also revealed the formation of a joint task force between the EFCC and the CBN, aimed at curbing both the abuse of the naira and the growing trend of “dollarization” in Nigeria’s economy. He described the naira as a symbol of national sovereignty that should be treated with dignity and protected from both social and economic degradation.

The move has, however, sparked public debate, particularly among cultural advocates who view money spraying as an integral part of traditional ceremonies, especially in Yoruba and Igbo communities. For many, it symbolizes prosperity, appreciation, and communal joy. Critics argue that the EFCC’s crackdown appears selective and harsh, especially when compared to the perceived leniency shown towards high-level economic crimes.

Nonetheless, the anti-graft agency maintains that it is determined to enforce the law without bias, regardless of social status. Olukoyede urged Nigerians to adopt a mindset of national responsibility and cautioned that enforcement will continue until respect for the naira is fully restored across all levels of society.