The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the National Security Adviser (NSA), Nuhu Ribadu, have warned Nigerians about the misuse of the Naira.

They emphasized that more people will be punished if they continue to abuse or trade the country’s currency illegally.

The warning was given during a security workshop in Abuja, where law enforcement agencies gathered to discuss the issue.

Cardoso revealed that investigations in major cities like Abuja, Asaba, Awka, Benin, Ilorin, Kano, and Ibadan showed cases of Naira abuse. He explained that some people were selling Naira notes at extra costs, with illegal charges of 20% to 40% per transaction.

He shared an example where N2.3 million in cash was bought for N3.2 million due to illegal charges. Cardoso stressed that such activities weaken the Naira and show a lack of respect for the country’s identity.

To stop this, the CBN Governor called for stronger enforcement of laws. He urged security agencies to arrest and prosecute those involved in illegal Naira dealings.

He believes that making an example of offenders will help people understand the importance of respecting Nigeria’s currency.

The NSA, Nuhu Ribadu, agreed with this view. He said law enforcement agencies need to do more to punish offenders. According to Ribadu, a lack of punishment for bad behavior encourages more lawlessness.

This is not the first time someone has been punished for abusing the Naira. In April last year, popular cross-dresser Idris Okuneye, known as Bobrisky, was sentenced to six months in prison for Naira abuse.

The Nigerian government is now taking stricter action to stop the misuse of the currency. The message is clear—those who continue to abuse the Naira will face serious consequences.