EFCC enforces anti‑naira abuse law to strengthen currency value.
Nigeria’s Economic and Financial Crimes Commission (EFCC) has launched enforcement of a 2007 law prohibiting “naira abuse,” which includes spraying notes at parties—a practice aimed at reinforcing the currency and curbing inflation.
Convictions and fines have already ensued, though enforcement hasn't significantly strengthened the naira, prompting public skepticism . Critics argue the crackdown penalizes cultural expression while overlooking deeper economic issues and elite corruption.
Some people have adapted by using fake notes or cash buckets to avoid legal consequences. The debate highlights tensions between tradition and economic pragmatism in modern Nigeria.
The EFCC defends its actions, saying it enforces law equitably as part of wider currency reforms tied to Tinubu's subsidy removal and FX changes.
I’m Adedayo Obadina
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