Cyprian Edward-Ekpo, director-general of the Institute of Law Research and Development of the United Nations (ILAWDUN), Washington, D.C., has advocated amending the Central Bank of Nigeria (CBN) Act to accommodate the spraying of naira.
Mr Edward-Ekpo said this during an interview in Abuja on Thursday.
He said the section of the CBN Act 2007 that prohibits the spraying of naira would not contribute to the country’s development.
Mr Edward-Ekpo said the amendment became necessary to avoid trampling on the people’s fundamental rights, adding that naira spraying had always been part of our culture.
According to him, spraying naira does not contribute negatively to the nation’s economy or aggravate inflation.
“So I don’t see how that should be an issue that will lead to the enactment of Section 21 of the CBN Act. During our forefathers, when people were engaging in marriages and naming ceremonies, they invited kings, family members, and others. They would dance, and the people would drop money for the celebrants,’’ he said.
According to him, this demonstrates to the community that they have contributed to the celebrant’s welfare.
“As far as this has remained the culture of the people over time, I don’t see the need to make a law to stop it,” he said.
Mr Edward-Ekpo stated that those who drafted the section of the CBN Act that prohibits the spraying of money had yet to convince Nigerians that the law was necessary.
He, therefore, urged the national assembly to strike out the section of the law.
(NAN)
