Recently, we marked the day of celebrating love and in recent times, we have seen a surge in the way love and celebration gift items are packaged. A major, in vogue choice of gift is the money bouquet or money cake. It is a unique gift made up of various denominations of folded bills arranged to look like flowers or stacked up like cake layers or made to form other decorative designs.
S. 21 of the Nigeria’s Central Bank’s Act (2007) gives guidelines to regulate tampering of the Nigerian note or coin. Specifically, S. 21(2) defines tampering of a note or coin to include impairment, diminishing or lightening of a note or coin otherwise than by fair wear and tear or has been defaced by stumping, engraving, mutilating, piercing, stapling, writing, tearing, soiling, squeezing or any other form of deliberate and willful abuse whether the coin or note has or has not been thereby diminished or lightened. The penalty for such action is an imprisonment term not less than 6 months or a fine not less than N50, 000 or both.
So, if you’re in Nigeria and you want to show your affection for a loved one, it is advisable to not attempt the money cake or money bouquet model. It may look cute and romantic at the onset but it can lead to a jail term or fine or even both. However, another question for discussion is the definition of a person. Is a person the one who designs the money bouquet or cake in this context? Or the person who orders it? Or both of them?
While we have to wait on the courts to provide an answer to this question, it is important to be reminded that the Naira is a sacred national symbol and it must be treated as such. Hence, any actions of manipulating or stumping or impairing the Naira is a crime.
S. 21, CBN Act (2007)
(1) A person who tampers with a coin or note With or trading in issued by the Bank is guilty of an offense and shall be imprisoned for a term not less than six months or to a fine not less than N50,000 or to both such fine and imprisonment.
(2) A coin or note shall be deemed to have been tampered with if the coin or note has been impaired, diminished or lightened otherwise than by fair wear and tear or has been defaced by stumping, engraving, mutilating, piercing, stapling, writing, tearing, soiling, squeezing or any other form of deliberate and willful abuse whether the coin or note has or has not been thereby diminished or lightened.
(3) For the avoidance of doubt, spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under Sub-section (1) of this section.
(4) It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.
(5) In this section——
(i) “Matching” includes spreading scattering or littering of any surface with any Naira notes or coins and stepping thereon, regardless of the value, volume, occasion or intent. (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 the Naira notes or coins in a similar manner regardless of the amount, occasion or the intent.