Whoever offers credible information, not driven by malice, gets a five per cent reward of the amount involved.
The Economic and Financial Crimes Commission, EFCC, is cranking up its fight against the abuse of the naira. In a recent announcement, the agency is offering a five per cent reward to whistleblowers who provide information leading to the prosecution of individuals caught spraying naira notes at celebrations.
This move aligns with the existing “Whistleblowing Act,” which incentivises citizens to report financial crimes. EFCC spokesperson, Dele Oyewale, clarified the programme’s application.
“There’s a reward if you report anyone spraying the naira,” he said. “That is whistleblowing. Whoever offers credible information that can be used for prosecution and is not driven by malice or mischief can get a five per cent reward of the amount involved.”
The act of spraying naira notes at events like weddings and parties is considered a form of abuse and disrespect for the national currency. It can also damage the notes, rendering them unfit for circulation.
The EFCC has emphasised its commitment to enforcing the law and protecting the integrity of the naira. Mr Oyewale highlighted the negative impacts of naira abuse on the economy.
“It is a crime to reject the naira,” he declared, “If there is nothing wrong with the naira, maybe it is dirty and not mint, and you reject it; it is a crime.”
The agency has already secured nearly 50 convictions for naira abuse and dollarisation offences across the country. This new whistleblower incentive programme signifies a further escalation in their efforts to curb this practice.
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