Edo Assembly directs security agencies to enforce law on currency abuse

March 28, 2017

Benin City – The Edo House of Assembly on Monday in Benin adopted a resolution urging relevant agencies of government to enforce the law prohibiting the abuse of the naira.

 

The adoption of the resolution was sequel to the consideration of a motion moved by Victor Edoror, member representing (APC Esan Central) constituency.

Edoror noted that trading in new currency was punishable under Section 24(4) of the Central Bank of Nigeria (CBN) Act 2007.

”The illicit trading of currency has resulted in the distribution of mutilated currency and the scarcity of new notes.”

Other lawmakers who spoke on the issue unanimously adopted the motion.

The speaker, Justin Okonoboh, condemned the sale of new currency notes in public places and directed the Commissioner of Police to deploy personnel to enforce the resolution.

Okonoboh further directed that clean copies of the resolution be sent to the relevant agencies.

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