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Spraying The Naira: Is the CBN Or The Police Toothless Bulldog?

Written By: Chukwuemeka Oluka

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Spraying the Naira and the CBN threats

Just when I thought I had seen it all with the Naira notes flying and making breath-taking and jaw-dropping stunts at a funeral in Oba, then came popular cross-dresser Bobrisky, who decided to make another shade of ‘doings’ recently in Lagos on the occasion to mark her… I mean, his 30th birthday anniversary.

Once again, the Naira flew at different coordinates from the spraying hands of guests and well-wishers at the venue, finding their ways to the ground while everyone danced on them. One begins to wonder; can the event at Bobrisky’s birthday party ever come close to the outlandish socialite funeral we all witnessed in Oba?

Anyways, the crux of the matter isn’t about social events competition, but it is about how the Naira – Nigeria’s legal tender, is being abused, evidenced by its spraying during social functions. To this end, this article examines the nuances associated with this practice, taking greater consideration on the place of stakeholders like the Central Bank of Nigeria (CBN) and the Nigerian Police in fighting the illicit practice. Are these stakeholders toothless bulldogs in this fight?

In the meantime, a toothless bulldog will bark, look tough, fierce and intimidating. It will charge at you but will take no further action. It isn’t going to bite because it has no teeth. Such could be the case with the apex bank and the Police since the CBN Act of 2007 was introduced to fight the spraying of the Naira during social functions.

A statement by a former CBN spokesperson, Isaac Okoroafor once read; “If a celebrant is dancing and you spray him/her, you may go to jail from the party venue, because the law enforcement agents will be there, waiting to arrest you. The law enforcement agencies must catch offenders and take them to court. Our (CBN) collaboration with the Police will intensify as we move to implement the mobile court for offenders.”

Interestingly, the recent funeral of the mother of Obinna Iyiegbu, a Nigerian business magnate and philanthropist, popularly called Obi Cubana in Afor Uzo, Oba, in Idemili South of Anambra state was teeming with police officers including the now embattled Deputy Commissioner of Police and leader of the Inspector-General of Police’s Intelligence Response Team, Abba Kyari.

For Kyari, he claimed he attended the burial to honour a brother and good friend. However, while you’d think other police officers too numerous to mention were there to apprehend guests who flouted the CBN’s jail warnings by spraying the naira, the policemen were seen guarding and guiding moneybags while they sprayed and hurled wads of Naira note in the air in a lavish and ostentatious show of wealth.

This glamorous funeral typifies what we see every day on television and social media. Wedding receptions, naming ceremonies, birthday and house warming parties of the high and the mighty are characterized by scenes where naira notes are being sprayed. A visit to these social functions would also reveal the hawking of mint notes. This is so, because, newly printed money looks more appealing to be sprayed.

What you should know

Improper handling of the Naira does not only involve spraying them. Other unwholesome practices against the Naira comprise writing on it, squeezing, stapling, tearing, soiling and/or mutilating the Naira.

These abuses constitute an offence, punishable by law.  Section 21(1) of the CBN Act 2007 states, that any person who tampers with any legal tender, coin, or note issued by the CBN is guilty of an offence. The offence also includes selling, buying, and squeezing of the Naira.

These offences are punishable with six-month imprisonment or N50, 000 (fifty thousand naira) fine or both upon conviction. Sub-section 3 of the Act (as amended) reveals that “spraying of, dancing or matching on the Naira or any note issued by the Bank (CBN) during social occasions or otherwise howsoever shall constitute an abuse.”

The same Act in Section 5(i) goes further to capture ‘Matching’ to include spreading, scattering, or littering of any surface with any Naira notes or coins and stepping thereon, regardless of the value, volume, occasion or intent. In section 5(ii) ‘Spraying’ includes adorning, decorating, or spraying anything or any person or any part of any person or the person of another with Naira notes or coins or sprinkling or sticking of Naira notes or coins similarly regardless of the amount, occasion or the intent.

The result

The improper handling of the Naira reduces the longevity of the banknotes. It also involves a lot of money to replace defaced or mutilated ones by the apex bank. When the Naira is being sprayed during occasions, people step on them leading to its mutilation. This practice doesn’t speak well of us as a nation.

It should be recalled that the Naira is an integral element of our national identity. Others include the national anthem and the national flag. A careful examination of the ways these elements are held reflects how Nigerians see the concept of National Identity and pride. Do we, therefore, hold the Naira as a totemic symbol that inspires some level of pride?

I guess the answer is not in the affirmative. Rather, we would treat foreign currencies like the Dollar and Pound Sterling carefully.

We like to keep them in a decent place in our wallets and bags – treating them as though they are newlywed brides. But for the Naira, we treat with disdain and indignity.

How then did we get here?

While many think this practice has to do with the nose-diving confidence in the exchange value of the Naira against other currencies, this article opines that the practice results from a culture of indiscipline, impunity and disrespect for our laws. If we have a situation where laws are obeyed and enforced, people will listen and sit up.

A visit to our traffic junctions, petrol stations, and airports reveal all manner of bedlam; but crossing over the borders of Nigeria into other developed nations, you see the same people who flout laws in Nigeria doing things right like joining queues.

Why? Because in those climes, once you break the law, irrespective of your social status, you will be penalized. The major challenge we thus have in Nigeria is not a dearth of appropriate laws; the bane lies in implementation.

Sadly, most of those guilty of this infraction are politicians, the rich, and those at society’s upper echelon. This is why implementing relevant sections of the CBN Act to curtail the spraying of the Naira remains a herculean task.

The CBN as a financial regulator or the Police has therefore made itself into a toothless bulldog that is never going to bite at offenders and get them prosecuted.

Since 2007 that the law against the spraying of the Naira has been in place, reported cases of arrests have mostly been about those hawking the Naira, not those spraying it. One wonders when enforcement would commence if, after more than a decade, the CBN and the Police are yet to hit the ground running with prosecutions.

Conclusion and way forward

What the country needs now is deliberate enforcement of Section 21(1) of the CBN Act. But enforcement of the law is not for the CBN alone. Law enforcement agents should rise to the occasion and perform their statutory roles to save the Naira from lingering abuse.

Relevant sections of the CBN Act should be strengthened to deal with officials of regulatory bodies, banking and finance sector operators, and law enforcement agencies who organize social functions where the Naira is being sprayed and abused. This will punish them due to the bad example they set.

In the meantime, because of the poor financial literacy level in the country, awareness campaigns on the need to treat the Naira with utmost dignity should be encouraged in different indigenous languages.

The CBN can compel various commercial banks to sponsor radio and television jingles in this regard. Organizing essay competitions to proffer pragmatic ways to curb this practice won’t be a bad awareness idea at all by the apex bank.

Also, if raiding occasions where guests and celebrants spray and dance on the Naira would lead to a possible shut down of the event, men of the police force can begin to collaborate with men of the Press while they cover social events.

Video footage of these events can then be used to trace offenders and get them arrested. Meanwhile, when arrests are made, they must be publicized to serve as a deterrent for others.

Notwithstanding, the CBN shouldn’t shy away from identifying and truncating the network of cartels that have hijacked mint notes meant to be withdrawn over bank counters and from Automated Teller Machines (ATMs).

Commercial bank managers who aid and abet such cartels should be made to resign and blacklisted. In a related development, hawkers of mint naira notes at social events must be rounded up and prosecuted. It is only when these hawkers are apprehended that spraying of the Naira at these social gatherings can be reduced.

In all, unless the CBN and the Police show strong commitment and will to implement relevant sections of the law meant to fight the spraying of the Naira, not minding who the culprits are, they may just remain a toothless bulldog that will continue to bark but will take no further action because, it cannot bite.

About The Writer

Chukwuemeka Oluka writes in from Enugu, Nigeria. He is a passionate writer and a research enthusiast. He is also a graduate of Electronic and Computer Engineering from Nnamdi Azikiwe University, Awka. He tweets @mekus_oluka and can be reached via [email protected]

GrassRoots.ng is on a critical mission; to objectively and honestly represent the voice of ‘grassrooters’ in International, Federal, State and Local Government fora; heralding the achievements of political and other leaders and investors alike, without discrimination. This daily, digital news publication platform serves as the leading source of up-to-date information on how people and events reflect on the global community. The pragmatic articles reflect on the life of the community people, covering news/current affairs, business, technology, culture and fashion, entertainment, sports, State, National and International issues that directly impact the locals.

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Atiku Abubakar’s Coalition on a Path to Failure after Struggles

By: Prof. Ojo Emmanuel Ademola

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Atiku Abubakar

In Nigeria’s political landscape, Atiku Abubakar’s coalition stands as a significant challenger to the status quo but faces challenges like internal disputes, regional divides, and distrust among stakeholders. To succeed, the coalition must present a clear economic vision resonating with an informed electorate. Fostering unity, transparency, and inclusivity while addressing internal conflicts and regional disparities will enhance trust and strengthen its position in Nigerian politics.

Atiku Abubakar is leading a coalition of major political parties, including the APC, PDP, and Labour Party, to challenge President Bola Tinubu in the 2027 elections. The coalition aims to tackle regional insecurity and economic issues, which Atiku believes the current government is mishandling. In response, President Tinubu is employing a carefully crafted strategy, termed a divide-and-rule approach by some analysts, to weaken this coalition. However, analysts suggest that Nigerians are increasingly focused on economic solutions rather than divisive politics.

Political analysts assert that Atiku Abubakar’s coalition faces immense challenges, indicating it is “dead on arrival.” Atiku Abubakar’s coalition is plagued by internal conflicts, particularly between him and Peter Obi over leadership and the presidential candidacy. Regional divisions have weakened the coalition, with the PDP losing influence in the South-South and South-East to Obi’s Labour Party. Trust issues persist as members question Atiku’s motives and whether the coalition serves a collective purpose. Amid Nigeria’s economic and political instability, the coalition struggles to gain support and maintain unity, highlighting the need for cohesion to navigate upcoming challenges, especially ahead of the 2027 elections.

Public opinion plays a crucial role in the success of political coalitions like Atiku Abubakar’s, influencing political dynamics significantly. Support from the public can enhance a coalition’s credibility and momentum, making it a stronger alternative to the current government. As politicians are attuned to public sentiment, aligning coalition goals with public concerns can motivate them to join or support the coalition. Positive public opinion leads to greater media coverage and supporters while mobilising essential resources for campaign efforts. Ultimately, electoral success depends on the coalition’s ability to connect with voters, making it imperative for Atiku’s coalition to engage with and address public concerns effectively.

Prioritising youth engagement, economic growth, and sustainability is essential for any administration aiming for progress. With Nigeria’s large youthful population, active involvement can enhance political participation, spark innovation, and build a strong workforce. Addressing the youth’s needs through targeted policies on education, job creation, and inclusivity is crucial.

Additionally, focusing on economic development is vital to tackle unemployment, poverty, and regional disparities, requiring policies that promote entrepreneurship and attract foreign investment. Emphasizing sustainability ensures economic progress while protecting the environment; this includes investing in renewable energy and eco-friendly technologies. President Tinubu’s commitment to these areas is key to fostering a more inclusive, prosperous, and sustainable Nigeria.

It’s an interesting perspective that Atiku Abubakar’s coalition might be seen as a distraction rather than a genuine attempt to address Nigeria’s challenges. In the digital age, where information flows rapidly and citizens are more informed, such strategies can indeed face significant hurdles. Here’s an expanded view on why this approach might struggle and what could be more effective:

Challenges of Distraction Politics in the Digital Age:

In today’s digital age, Nigerians have greater access to information through social media and online news, making traditional political diversion tactics less effective. This increased transparency allows citizens to monitor government actions closely and hold officials accountable. The youth, who are active online, prefer practical solutions over distractions, highlighting the need for meaningful policies to drive genuine progress and change.

Effective Strategies for Democratic Development:

Focusing on economic empowerment through sustainable initiatives such as job creation, small business support, and investment in technology can significantly improve citizens’ well-being. Enhancing education and skills for youth prepares them for the job market and strengthens the economy. Inclusive governance that addresses regional disparities fosters national unity and stability. Additionally, promoting environmental sustainability through green technologies and renewable energy ensures long-term prosperity and a healthier future for everyone.

Inspiring Examples:

Digital innovation has transformed governance and public services in Estonia, highlighting transparency and efficiency. Nigeria should adopt similar strategies to enhance its performance. Youth-led initiatives are crucial for economic growth and support young entrepreneurs. The tech industry in Nigeria is booming, with start-ups gaining global recognition.

Community engagement is vital for effective political movements, requiring grassroots involvement to address diverse needs. Leaders who connect with communities foster strong support, essential for successful governance. Nigeria can build a brighter future by embracing innovation, empowering youth, and engaging communities.

Distraction politics may have worked in the past, but the digital age requires more transparency. By focusing on real solutions and engaging with an informed electorate, leaders can foster democratic development and a brighter future for Nigeria.

Atiku Abubakar and his coalition have faced challenges in developing winning strategies. Let’s examine some democratic perspectives on the reasons behind this and potential alternatives.

Challenges Faced by Atiku Abubakar and His Coalition:

Progress in Nigeria’s political landscape hinges on overcoming formidable hurdles such as the lack of a unified vision, deep-rooted trust deficits, and intricate regional and ethnic divides. The coalition must navigate complex agendas and historical disappointments to present a cohesive front and inspire confidence among voters. Addressing Nigeria’s diverse societal scope requires inclusive strategies that bridge demographic disparities and deliver tangible solutions to pressing economic and social woes. By forging a unified vision, rebuilding trust, and fostering cohesion among varied communities, the coalition can chart a path towards transformative change and sustainable development in the nation.

Engaging Democratic Views:

To succeed, a coalition must first establish a unified vision that transcends individual ambitions and resonates with the broader public. Rebuilding trust is key, requiring transparency, accountability, and consistent communication to demonstrate a commitment to democratic principles. Inclusivity in policymaking is vital, necessitating engagement with diverse groups to address regional and ethnic needs effectively. A strong focus on the economy, with clear and practical plans for job creation and infrastructure investment, is essential for garnering voter support. Additionally, prioritizing youth engagement through education, skills development, and political participation initiatives can ensure a more inclusive and sustainable political strategy.

Inspiring Examples:

Building grassroots movements is essential for a coalition’s success, as local networks create strong support. Digital campaigns via social media and online platforms can broaden the coalition’s reach. Collaborative leadership fosters voter confidence, as united leaders convey solidarity and commitment.

Atiku Abubakar and his coalition have struggled to meet essential foundational criteria. Despite the challenges they face, there are effective strategies they could implement to enhance their prospects. However, various reasons limit their ability to adopt these strategies. Instead, they should foster unity, trust, inclusivity, and economic development. By doing so, they can craft a compelling vision that truly resonates with the Nigerian public.

In conclusion, Atiku Abubakar’s coalition is at a pivotal moment, with the potential to either reshape Nigerian politics or struggle with its challenges. To succeed, the coalition must present a unified vision that resonates with all Nigerians. It needs to rebuild trust through transparency and accountability while addressing the diverse needs of the country’s various regions and demographics. By focusing on economic empowerment, youth engagement, and sustainable development, the coalition can provide a compelling alternative to the current administration. In a time when voters seek genuine solutions and meaningful change, the path to success lies in tackling the real issues facing Nigeria and engaging the public in a transparent and inclusive manner.

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Cybersecurity in 2024: Towards Ever Greater Sophistication of Tactics

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Chester Wisniewski, Director Global Field CTO

Writer: CHESTER WISNIEWSKI, Director Global Field CTO, Sophos

With 2024 fast approaching, what are the results for 2023 and what are the developments in the threat landscape for this new year?

The year 2023 was marked by persistence in the tactics of cybercriminals, with the predominance of ransomware, the exploitation of vulnerabilities, theft of credentials and even attacks targeting the supply chain. The common point in all his attacks is their formidable effectiveness.

It is therefore essential to ask what trends will persist in 2024 and what strategies businesses should adopt to deal with these future cyber threats.

Between persistent trends and evolving cybercrime tactics

In 2024, the threat landscape is not expected to change radically, particularly with regard to attack typologies and criminal tactics and procedures.

Criminal groups still primarily focus their attention on financial gains and ransomware remains their weapon of choice. These cybercriminals tend to take the easy way out by opportunistically attacking unpatched security vulnerabilities.

The recent Citrix Bleed attack demonstrated the agility of cybercriminals when it comes to quickly and effectively exploiting these new vulnerabilities.
However, once patches are applied to these vulnerabilities, cyberattackers tend to revert to more common strategies of stealing credentials or, failing that, cookies or session cookies, which, while slightly slower, constitute always a proven means that allows them to penetrate within a system.

In 2024, however, we should expect increased sophistication in defense evasion tactics, particularly due to the generalization of certain technologies such as multi-factor authentication. These attacks will combine malicious proxy servers, social engineering techniques and repeated authentication request attacks or “fatigue attacks”.

AI and regulations will continue to shape cybersecurity

In 2024, the development of AI will have a positive impact on the efficiency of IT teams and security teams by enabling them to strengthen defenses and work more efficiently, including through the processing of vast volumes of data in the aim of detecting anomalies. It should make it possible to respond more quickly in the event of an incident.

Indeed, analysis of attacks in 2023 showed a shortening of the time between network penetration and the triggering of a final attack – using malware or ransomware. The need for rapid detection and response tools to prevent costly incidents is therefore essential.

Finally, regulatory developments could have a major influence on measures taken against ransomware. The need to take more substantial measures could push some states to penalize the payment of ransoms, which would represent a brake on malicious actors and change the perspective of companies in the event of an attack.

Other stricter legislation, such as the implementation of the European NIS2 Directive, is also expected to force companies to take additional measures, particularly regarding their abilities to collect data sets.

To protect themselves against increasingly rapid, effective and costly attacks, companies will need to strengthen their defenses by equipping themselves with tools that allow them to detect and respond to incidents more quickly.

The worsening cybersecurity talent shortage does not appear to be as serious as some studies claim. On the contrary, companies have implemented more lax hiring criteria and more open-mindedness in the recruitment process.

From this perspective, to guarantee their survival in a constantly evolving threat landscape, companies have every interest in establishing partnerships with cybersecurity experts whose main mission is to make the hyperconnected world safer, to advise and assist them. in setting up effective defenses.

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Atiku and Asiwaju’s Economic Management as the Only Good Still Left of Nigeria’s Economy

Article By Hashim Suleiman

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Atiku Tinubu
Atiku Abubakar and Bola Tinubu; PDP and APC 2023 Presidential candidates

When once a society derails from encouraging robust conversations from all divides and objective ones at that, it has basically lost the most common basis for development and some of us have taken it a duty to bring these points to bare, perhaps we may see the light and begin to open up these conversations for the gullible, the half-gullible, upcoming ones and those who may have missed out on certain points.

As our democracy is growing through natural tendencies and less citizenry efforts, so many of the citizens seem to be forming this holier than thou character which appears to denigrate the efforts that certain patriots have sacrificed to achieve regardless of how imperfect, recall that same people could even do worse if given same opportunity because a lot of their opinions are not borne out of criticality but rather beer parlor talks, bandwagon and a general character of mischief that promotes pulling down people.

I have said in several fora that I’d be grateful if God can bless me as much as He did Obasanjo and so many others, this is to dissuade those young people who could be easy to throw tantrums and insult on these statesmen without understanding that they only gave what they had under the prevailing circumstances.

They also do this some other times for support of their political icons forgetting that the entire elites are friends and bare no grudge less for political bashings that remain basically games to them.

Accordingly, I’d like to remind the citizenry of the exceptional strides that Atiku Abubakar and Bola Tinubu had put in to our economy which remains the only bedrock that is still keeping the economy of the country moving. Everyone practically latches on them to be able to pull of some achievements of government.

You may recall that Atiku as the chairman of the economic management of the country between 1999 to 2007 opened the economy to the world by simply assembling sound brains who had the KnowHow and he monitored alongside his boss to ensure they delivered the much they did.

He first identified government had no business doing business and they quickly lobbied the National Assembly to pass the Act on privatization which saw to the setting up of the Bureau of Public Enterprises that was headed by Nasiru Elrufai himself a recruit of Atiku Abubakar to midwife the sale of government businesses that are today still functional like Ntel which provides one of the best bundle services in Abuja, Lagos and Portharcourt.

Regardless of how imperfect, it’s still employing thousands and standing on its feet, imagine what could have happened to her if it was not privatized. So many of the private Telcos are leveraging on their infrastructure to do business, some monies are changing hands through that too.

Recall also that all the policies around IPPIS, GIFMIS, TSA, FIRS etc which ensures mop up of revenues and discourages wastages were babies of an Okonjo Iweala and her lieutenants like Okauru and others. Atiku Abubakar equally shopped these individuals and supervised them to ensure deliveries, every government policies afterwards has leveraged on these policies to be able to make something good of their economic policies.

Nuhu Ribadu was equally recommended by Atiku for recruitment to pilot the setting up of the EFCC and it’s not in doubt how that institution has remained what every administration uses to attempt to fight the almighty corruption.

It was indeed robustly set up as it has stood the test of time. People would accuse him of privatizing to himself and same people will today say he is broke but I have never seen one person that has pointed to what Atiku sold to himself till today.

This space will not be enough to highlight all of Atiku’s economic strides in that era but I have highlighted enough to get people to begin to research and perhaps expand the conversation.

On the other hand, Asiwaju’s economic management of Lagos did no small help to the Nigerian economy as every other Nigerian leaders that have emerged after 2007 have had to leverage on the revenues from Lagos to ramp up VAT collections and subsequent sharing by all tiers of government.

The opening up of the city to beautiful infrastructure had provided an opportunity for the entertainment industry to blossom leading to influx of Forex through international shows as well as the provision of ample employment opportunities.

Little wonder why the young entertainers in lagos don’t care who the next president is, they would rather organize a carnival of a protest like ENDSARS and share food to themselves while dancing- ‘catching cruise’ like it’s said in local parlance.

Asiwaju’s human capital development has also led to the availability of human resource to manage the very difficult task of managing critical sectors. President Muhammadu Buhari would thank such efforts as it provided him ample Human Resources to utilize for his administration.

Therefore, the 2023 elections have presented very fine gentlemen who have utilized their times and opportunities to leave a mark that is undeniable in the history of our dear nation no matter how imperfect. I would continue to wonder who would celebrate ours for us if not us, there is absolutely no reason to continue to denigrate these individuals considering more of the fact that they have learnt appropriate lessons to improve on the lot that they have both achieved if given another opportunity. Recall also that we may not be able to do better if given the opportunity.

Consequently, I submit that head or tail Nigeria stands to benefit from the outcome of the 2023 elections, let us support appropriately, improve the conversations, reduce the bitterness and imbibe optimism and positivity for the hope of a better nation going forward.

God bless Nigeria. Hashim Suleiman can be reached via [email protected]

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