Celebration or Crime? When Culture Clashes with Crucial Currency Control, by Rahma Olamide Oladosu
In Nigeria, no celebration is quite complete without the familiar flutter of naira notes cascading through the air. It is an unmistakable expression of joy, generosity, and cultural pride. From weddings to birthdays, the tradition of spraying money is more than just festive flair. It is a deeply rooted social ritual that signals community, success, and shared happiness. But today, this age-old display of merriment risks becoming a criminal offense as the Central Bank of Nigeria (CBN), through the Economic and Financial Crimes Commission (EFCC), intensifies its crackdown on what it sees as the public mishandling of the nation’s currency.
In recent months, the CBN, in collaboration with the Economic and Financial Crimes Commission (EFCC), has begun enforcing a long-overlooked provision of the 2007 CBN Act that prohibits the spraying and abuse of the naira. Arrests, prosecutions, and even jail sentences have followed. While this enforcement drive has drawn headlines, it has also sparked confusion, criticism, and discomfort among Nigerians.
To be clear, promoting respect for our national currency is a noble cause. The naira is not just money. It is a symbol of Nigeria’s independence, identity, and economic sovereignty. Disrespecting it should never be taken lightly. But there is something deeply misplaced about targeting public expressions of joy while turning a blind eye to the systemic rot that has truly weakened the naira.
Spraying money is not just a random act of wastefulness. It is a cultural emblem, shared by many across the Afro diaspora. It speaks to abundance, pride, communal celebration, and generosity, especially in a society where hardship is normalised and moments of joy are hard-earned. According to some critics, that the state has chosen to criminalise such expression sends the wrong message. It says public joy is dangerous and that cultural visibility is more punishable than economic malpractice.
Ironically, the naira’s most devastating blows have not come from partygoers but from the very top. Currency manipulators, forex round trippers, hoarders, and elite actors fuel a black-market system that destabilises the economy from within. The naira lost over 65 percent of its value in the past year not because a bride was sprayed ₦500 at her wedding, but because Nigeria’s financial institutions failed to curb speculative behaviors and illicit capital flows. Where is the same energy in prosecuting those with real power to destroy the naira?
This crackdown exposes a disturbing truth. In Nigeria, enforcement often targets the visible, not the culpable. Socialites, dancers, brides, and grooms are easy to arrest and use as examples. They help regulatory bodies appear effective. But none of this brings structural stability to the naira. Instead, it weaponises the law against joy and tradition, and that should concern us all.
Beyond symbolism, this policy has far reached social consequences. In communities where these traditions thrive, celebration now feels constrained. Parties are less expressive. People are confused and fearful of breaking a law they barely understood existed. A party without money spraying may comply with policy, but it also loses the cultural vibrancy we have grown up with. That is not just inconvenient. It is an erosion of identity, masked as financial discipline.
Some critics also point to what they see as ‘selectivity in enforcement.’ In elite circles and private events, money is still sprayed, only more discreetly. It is the less privileged, the middle class, and the working-class celebrants who are made scapegoats. They are easier to prosecute. They lack the networks, influence, or resources to fight back. Meanwhile, those who have done far greater damage to the economy hide behind corporate gates and policy loopholes.
That said, we must acknowledge that the Central Bank of Nigeria under Governor Yemi Cardoso has made real and strategic efforts to restore discipline to the financial system. By enforcing laws that had long been ignored, the CBN is signaling that it intends to take currency management seriously at every level of society. The partnership with the EFCC to tackle naira abuse is part of a broader effort to instill national pride and restore the dignity of the naira as a symbol of state authority.
The CBN has also rolled out renewed public sensitisation campaigns, urging Nigerians to treat the currency with care and respect. Public messaging, posters, and awareness drives have been revived to emphasise that the naira must not be sprayed, mutilated, defaced, or mishandled. These moves, though controversial in implementation, do show that the institution is active, focused, and trying to rebuild lost confidence.
Governor Cardoso has also worked to reduce the gap between official and parallel exchange rates and bring some order to a volatile market. There has been a more transparent FX window, increased collaboration with other financial stakeholders, and open dialogue on achieving long term currency stability. While results are still unfolding, the commitment to systemic reform is clear.
Nigerians must at this point get the message clearly. Culture is very important but culture must evolve, adopt and adapt to contemporary realities. People can still do parties, have fun, exchange gifts and monies without breaking the law in any way. The Naira must be respected and treated with utmost dignity.
Oladosu is a Staff Writer with the Economic Confidential
