The Economic and Financial Crimes Commission (EFCC) has called on operators of event centers, clubs, and lounges to take active steps in protecting the Naira from abuse.
The Executive Chairman of EFCC, Mr. Ola Olukoyede made this appeal during a sensitization session held at the Benin Zonal Directorate of the Commission on Thursday.
Speaking through the Acting Zonal Director, ACE I Effa Imoh Okim, he emphasized that the Naira is a national treasure that must be safeguarded from all forms of misuse. While he condemned the popular practice of spraying money at events.
He described it as a wrong mentality that should be discouraged.
“Spraying money is at the foundation of economic and financial crimes in the country. Young people grow up watching adults engage in this act and develop wrong values. They want to emulate this, and in doing so, some turn to illegitimate activities to make quick money just to showcase their wealth at events,” he stated.
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Olukoyede specifically pointed out that internet fraudsters, popularly known as ‘Yahoo boys’, frequently spray their illegally acquired money at nightclubs, promoting a culture of financial recklessness and vanity.
The EFCC chairman urged event center, club, and lounge owners to educate their customers on the dangers and legal implications of Naira abuse. He warned that the Commission will arrest and prosecute anyone caught engaging in the act.
“We are partnering with you to curb this menace. We are not against your legitimate business, which is vital to economic growth. What we are against are your customers who abuse the Naira in your facilities. You must take measures to stop this by making it clear that spraying money is prohibited,” he added.
