The recent spate of arrests and convictions for naira abuse has drawn public applause for the Economic and Financial Crimes Commission (EFCC)’s renewed zeal in upholding the sanctity of the Nigerian currency. Yet, beneath the surface of this enforcement lies an unsettling trend that raises a critical question: Is naira abuse only a crime when committed by the poor and powerless?
Over the past year, the EFCC has convicted several individuals for naira mutilation, including celebrities like Idris Okuneye, popularly known as Bobrisky, and actress Oluwadarasimi Omoseyin (Simi Gold). Both were sentenced to six months’ imprisonment, and more recently is the conviction of Babatunde Peter Olaitan and Tobilola Olamide to six months’ imprisonment each for mutilation of the Naira notes, a violation of Section 21(1) of the Central Bank of Nigeria Act, 2007, which criminalises the abuse of the national currency.
Yet, while these convictions dominate headlines, other high-profile figures have been seen in viral videos engaging in the same act with impunity.
Popular businessman and socialite Emeka Okonkwo, also known as E-Money, was arrested for allegedly spraying United States dollars, an act said to violate the Foreign Exchange Act.
Comedian Ayo Makun (AY) was invited by the Economic and Financial Crimes Commission (EFCC) regarding an incident involving the public spraying of both local and foreign currencies, and was granted a pardon.
Also, the sons of billionaire industrialist Chief Rasaq Okoya, Wahab and Raheem Okoya, were seen flaunting and spraying bundles of Naira notes in a video.
In the video, the duo danced while a mobile policeman held stacks of crisp naira notes, which they flung into the air. Though the police confirmed the detention of officers who were seen accompanying the Okoyas, the young men themselves were invited with no further update from the agency.
More recently, the former militant leader, Government Ekpemupolo (Tompolo), was also reportedly seen publicly stepping on naira in one of his traditional dance displays at his hometown. Although the agency, in a statement posted across its social media platforms, hinted at possible prosecution, stating, “Nobody is above the law. Tompolo will have questions to answer”, yet, no update has been given to that effect.
This pattern suggests a disturbing double standard of selective justice. While lesser-known citizens, online influencers, and mid-level socialites have been prosecuted and jailed, those with fame, fortune, or political connections have largely evaded arrest or court appearances.
The case of Cubana Chief Priest, for example, ended not with a conviction but with a financial settlement of ₦10 million and a promise to launch a sensitisation campaign. The EFCC, in its statement, framed the settlement as part of a “restorative justice” approach. This is more of a proof of a two-tiered justice system, one for the elite and another for the poor.
The central bank’s position is clear: the naira is a national symbol that must be treated with respect. Yet, when enforcement is inconsistent and seemingly targeted at the low-hanging fruit, it erodes public confidence and makes a mockery of the law. This brings the question again: is naira abuse only a crime when committed by the poor and powerless?