Government cracks down on "spraying" money at social events to defend naira.
In a controversial move, the Economic and Financial Crimes Commission (EFCC) has launched enforcement actions against the practice of “spraying” naira notes at social and celebratory events, aiming to bolster the ailing currency.
The crackdown is rooted in a seldom-used 2007 law criminalizing naira abuse, with penalties including fines and up to six months imprisonment. Authorities argue that public spraying of currency undermines efforts to stabilise the naira in the wake of major economic reforms, including subsidy removal and currency devaluation.
Critics contend the policy unfairly targets vulnerable citizens and disrupts cultural traditions—especially in Yoruba communities—while alleged economic elites escape sanction. Questions persist over whether the approach meaningfully addresses currency instability or merely penalizes poor celebratory practices.
Supporters of the initiative say it forms part of broader reforms to instil fiscal discipline and nurture patriotic use of the naira; however, effectiveness remains uncertain and public backlash continues.
I'm Adedayo Obadina
Talksocialtalks
---
