Nigeria Court jails Chinese man two years over Naira Mutilation 

PLACE YOUR ADVERT HERE

The Lagos Zonal Command of the EFCC on Tuesday, May 31, 2022, secured the conviction and sentencing of one Li Lei Lei, a Chinese national, 24 months imprisonment for mutilating the Nigeria Currency. He was convicted by Justice 1. Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos.

On four- count charge bordering on tampering with the Nigerian Naira note, an offence contrary to and punishable under section 21(1)of the Central Bank of Nigeria Establishment) Act.

The principal Manager, currency Operations Department, Mrs Dorothy Onyene , urged traders and other Nigerians to stop abusing the Naira . Onyene condemned the way some Nigerians mutilate fold, and deface the Naira, saying, “It is a punishable offence to abuse the Naira. Defaulting are liable to six months imprisonment and/or N50,000 fine.

“Improper handling of the notes, including Mutilation, hawking, squeezing and spraying money at events would not be tolerated.”

PLACE YOUR ADVERT HERE
Queen Ferry
Queen Ferry
Chinyere Treasure Ikechukwu also known as Queen Ferry, is a Nigerian business Executive, social media savvy Journalist and Content Editor with over seven years experience. She serves as the Vice-Chairman of Naijatraffic Limited. If Treasure is not researching/blogging, she will be making delicious delicacy.

Popular Related

Burkina Faso, Niger, Mali announced withdrawal from ECOWAS with immediate effect

The three military regimes countries has announced their immediate withdrawal from the West African bloc, the Economic Community of West African States (ECOWAS), saying...

“Sanctions on Guinea, Mali, Niger, Burkina Faso to be lifted” – Tinubu

President Bola Tinubu has demanded that the economic sanctions placed by ECOWAS on Guinea, Niger, Mali, and Burkina Faso be lifted. At the ECOWAS extraordinary...

Woman arrested with 130 poisonous frogs at Bogota airport

130 poisonous frogs that were being smuggled through the Bogota airport were discovered by Colombian authorities on Monday. The authorities also detained the Brazilian woman...

Mauritius Authorities Shutdown Airports and Schools Over TropicalStorm

As a powerful tropical cyclone moved toward the Indian Ocean island of Mauritius on Thursday, the meteorological services reported that flights had been canceled...

Credit to govt rises 7.6% to N36.16 trillion

Government Credit has increase month-on month, MoM, by 7.6 percent to N36.16 trillion in January 2024 from N33.6 trillion in December 2023. Statistics restrained in...

Ogun State waste managers laments over unpaid allowances

The Association of Waste Managers of Nigeria (AWMN) chapter in Ogun State made a plea to Prince Dapo Abiodun, the state governor, on Wednesday,...

Uk-based Nigerian pastor reacts about shutting down Church, over alleged 1.9m fraud

Uk-based Nigerian pastor Tobi Adegboyega, is the founder of Salvation Proclaimers Ministries Limited, most known as SPAC Nation, has reacted to the news circulating...

‘Why People blame me for Olaide Oyedeji failed marriage’ actor Ayo Olaiya

Nollywood actor Ayo Olaiya shed more light on his relationship with his female  colleague and friend Olaide Oyedeji. The talented actor disclose this in an...

CBN to Nigerians, Ignore reports that banks failed stress test

The Central Bank of Nigeria's most recent Economic Report for 2023, noted that the country's banking sector remains resilient and that key financial soundness...

CBN stop dollar cash payment for business travel, PTA

The Central Bank of Nigeria (CBN) has stopped dollar cash payment for Business Travel Allowance (BTA) and Personal Travel Allowance (PTA). All such transaction should...