A former President of the Association of National Accountants of Nigeria (ANAN), Dr. Samuel Nzekwe, has advised the Central Bank of Nigeria (CBN) and National Orientation Agency (NOA) to strengthen sensitization of Nigerians on the adverse effects of Naira abuse.

Nzekwe advised in an interview on Wednesday in Ota, Ogun.

He said that more sensitization on the abuse of Naira had become necessary, as the money could be used for other purposes.

Only wicked person will give birth in Nigeria, Bisi Alimi

NAN reports that Nzekwe was reacting to CBN’s warning in a circular entitled: ‘Treatment of Composed Banknotes’, issued to all deposit money banks on March 31 by its Director, Currency Operations Department, Ahmed Umar.

The ex-ANAN president emphasized the need for massive public enlightenment on the use of Naira, as most of the materials being used were imported, thus making the cost of printing very high.

“Many Nigerians have kept molesting the Naira, as they are usually seen at parties spraying different denominations and matching on them.

APC fixes dates for presidential, NASS, governorship, assembly primaries

“People need to protect and respect the nation’s currency by handling it with care,” he said.

Nzekwe attributed most of the mutilated banknotes found in various commercial banks to faulty handling of the Naira by the people.

He suggested that a stiffer penalty be put in place for anyone caught abusing the nation’s currency to serve as a deterrent to others. (NAN)