The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has issued a stern warning to Nigerians, reiterating that acts such as spraying, stamping on, or otherwise defacing the Naira constitute a criminal offense punishable by law.

Olukoyede re-emphasized this stance on Friday, July 18, 2025, as part of the commission’s ongoing efforts to safeguard the integrity of the nation’s currency and combat financial crimes. He stressed that such practices are not merely cultural expressions but direct violations of existing statutes.

“Spraying and stamping on the Naira are not cultural practices; they are criminal,” Olukoyede stated, noting that such actions undermine the dignity of the national currency and increase the cost of currency management for the Central Bank of Nigeria (CBN). He further highlighted that the abuse of the Naira often serves as a foundation for broader economic and financial crimes, as it can incentivize illicit wealth acquisition, particularly among young people who seek to display ill-gotten money in public.

The EFCC boss pointed to Section 21 of the Central Bank of Nigeria (CBN) Act, 2007, as the legal bedrock for prosecuting offenders. This section explicitly prohibits spraying, dancing on, or tampering with Naira notes, stipulating penalties that include imprisonment for not less than six months or a fine of not less than N50,000, or both. Additionally, Section 30 of the same Act can lead to imprisonment for up to two years. The EFCC’s mandate to enforce these laws is enshrined in Section 7, Subsection 2 of its Establishment Act 2004.

The EFCC has significantly intensified its crackdown on Naira abuse across the country, particularly in major cities. Recent enforcement actions have led to notable arrests and convictions:

• In April 2025, popular Lagos socialite Emeka Okonkwo, widely known as E-Money, was arrested following allegations of spraying both Naira and US dollar notes at public events.
• The Commission also secured the conviction of social media influencers Tobilola Olamide (TobiNation) and Peter Olaitan (TDollar) in May 2025. They were each sentenced to six months imprisonment (with an option of a N200,000 fine) for spraying Naira notes, following investigations triggered by viral videos on social media platforms.
• Similarly, Okoli Frank Emeka was jailed for six months (with an option of a N250,000 fine) in May 2025 for tampering with and matching on Naira notes during a social occasion.
• Earlier, in 2024, actress Oluwadarasimi Omoseyin received a six-month jail term for spraying and stepping on new Naira notes at a wedding.

Olukoyede has also engaged with operators of event centers, clubs, and lounges, urging them to educate their patrons on the illegality of Naira abuse within their facilities. He warned that the Commission would not hesitate to arrest and prosecute anyone found culpable, emphasizing the need for collective responsibility in upholding the national currency’s sanctity. The EFCC’s continued vigilance underscores its commitment to ensuring respect for the Naira and fostering financial integrity in Nigeria.