Ogun Monarch, Kolawole Sowemimo Risks Jail Term Over Alleged Abuse Of Naira

Date: 16-01-2024 9:36 pm (5 months ago) | Author: onuigbo felicia
- at 16-01-2024 09:36 PM (5 months ago)
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The National Orientation Agency (NOA), has frowned at the abuse of naira notes by a traditional ruler in Ogun State.

The monarch, Olu Owode, Oba Kolawole Sowemimo in a viral video had allegedly abused the naira while spraying popular fuji musician, Wasiu Ayinde, popularly known as KWAM 1 at a party.

In the viral, the monarch had knitted N1,000 notes together forming a long rope which he wrapped around the neck of KWAM 1.

The monarch was seen personally engaging in the act of abuse with the help of his aide on the dance floor.

But, reacting to this, NOA said the monarch violated Section 21 (3) of the Central Bank of Nigeria Act 2007 as amended, which stipulates that spraying of, dancing or matching on the naira or any note issued by the bank during social occasions or otherwise, howsoever shall constitute abuse and defacing of the naira or such note and shall be punishable under the law by fines or imprisonment or both.

The statement reads partly, “The NOA has the mandate to preserve and promote the integrity of our national symbols and we are compelled to appeal to you and indeed all traditional rulers to see it as part of your duty to preserve these symbols as part of our national culture.

“These symbols are icons that define us as a sovereign nation and respect for them is also respect for our country,”
Issa-Onilu said.

Issa-Onilu, however, appealed to the monarch to desist from such an act and rather become an apostle against abuse of the Naira notes.

Posted: at 16-01-2024 09:36 PM (5 months ago) | Addicted Hero
- gogoman at 16-01-2024 10:49 PM (5 months ago)
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Posted: at 16-01-2024 10:49 PM (5 months ago) | Grande Master
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- maxzy277 at 17-01-2024 06:51 AM (5 months ago)
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Posted: at 17-01-2024 06:51 AM (5 months ago) | Gistmaniac
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- kp45 at 17-01-2024 08:22 AM (5 months ago)
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Posted: at 17-01-2024 08:22 AM (5 months ago) | Addicted Hero
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