New Naira Notes: IGP Orders Arrest Of New Currency Hoarders, People Rejecting Or Spraying Naira

new-naira-notes (credit: Businessday)

The Inspector General of Police (IGP), Usman Alkali Baba, has ordered the arrest and prosecution of any individual found selling or abusing the new Naira notes issued by the Central Bank of Nigeria (CBN).

In a statement released by the Police spokesman, Olumuyiwa Adejobi (CSP), the directive was to uphold the Federal Government’s policy on the new naira notes and to uphold the CBN Act of 2007.

The directives empowered the Deputy Inspector-General of Police (DIG) in charge of the Force Criminal Investigations Department, and the Assistant Inspector-General of Police (AIG) in charge of the Force Intelligence Bureau, to place officers and men of the Department and the Bureau across the Nation on high alert.

There has been considerable tension in the country with regards to the changing of the Nigerian currency. The scarcity of the new naira notes had caused a build up of crowds at banks nationwide with the accompanying economic hardship.

It is hoped that the new directives may help in making the new Naira notes circulate, therefore curtailing the artificial scarcity and improving the flow of commerce in an economy that is heavily cash dependent.

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