The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on stakeholders to support the Commission’s efforts to end the abuse of the Naira.
Speaking at a sensitisation programme organised by the Lagos Zonal Directorate 1 of the EFCC, Olukoyede urged movie producers, musicians, NGOs, media practitioners, bureau de change operators, lawyers, security agencies, and other critical stakeholders to join hands in preserving the integrity of Nigeria’s currency.
He noted that the programme was necessitated by the rising incidence of Naira abuse and mutilation across the country.
“The Naira is more than a means of exchange; it is a profound symbol of our sovereignty and pride. How we treat it reflects how much we respect ourselves as a people,” he said.
Olukoyede condemned the widespread abuse of the currency at social events through spraying, stamping, and mutilation. He disclosed that, in the past year, the EFCC, in collaboration with the Central Bank of Nigeria (CBN), has intensified enforcement and public awareness campaigns, established a Task Force on Dollarisation and Naira Abuse, and prosecuted several offenders, including celebrities.
He dismissed the notion that spraying Naira is a cultural practice. “As a salary earner myself, it is unimaginable for me to throw my hard-earned income into the air. An offence is an offence, and ignorance of the law is no excuse,” he stated.
The EFCC Chairman explained that the abuse of the Naira imposes significant costs on the CBN, which has to replace defaced or mutilated notes. He urged entertainers and influencers to use their platforms to educate the public on respecting the national currency.
“In every performance, let one of your opening lines remind your fans that spraying or stamping on the Naira is a crime. We must all defend the integrity of our currency,” he appealed.
Olukoyede further reaffirmed the EFCC’s commitment to supporting President Bola Tinubu’s economic reforms through strategic enforcement, responsible asset recovery, and public enlightenment.
He revealed that N100 billion recovered from proceeds of crime has already been channelled into social investment initiatives such as the National Education Loan Fund (NELFund) and the Consumer Credit Scheme (Credicorp). Recovered assets, he added, have also been used to fund development projects, including the NDDC skill acquisition centre in Bayelsa and the transformation of a seized property in Kaduna into the Federal University of Applied Sciences, Kachia.
Also speaking at the event, Director General of the National Orientation Agency (NOA), Lanre Issa-Onilu, commended the creative industry for its role in national development. He urged stakeholders to take pride in their influence on national values and image.
“The abuse of the Naira is not only unlawful but unethical. The Naira is not confetti or an accessory for prestige; it is a national asset that demands respect. When you honour the Naira, you honour Nigeria,” he stated.
Issa-Onilu outlined ongoing NOA interventions under the Nigerian Identity Project and National Values Charter, which include multilingual media sensitisation, school outreach, market advocacy, and the deployment of its AI-powered civic assistant, CLHEEAN, to promote patriotism and civic responsibility.
He called on traditional rulers, religious leaders, influencers, market unions, and youths to champion respect for the currency. “This campaign must be national in scope but local in execution. Let us be the generation that made respect for our currency fashionable again,” he said.
The sensitisation event brought together key figures from the entertainment, financial, and regulatory sectors. Notable attendees included King Alabi Pasuma, MI, Ill Bliss, Goretti, Osas Ighodaro, Pretty Mike, Terry Apala, Mercy Aigbe, Kazim Adeoti, Funke Bucknor-Obruthe, and Anto Lecky.
