The son of the Director-General of the Department of State Services (DSS), Yusuf Bichi, has been captured in a viral video spraying bundles of naira notes on a popular actress and Senator Ned Nwoko’s wife, Regina Daniels.Thank you for reading this post, don't forget to subscribe!
He was seen spraying wraps of the new naira notes on Ms Daniels in the video believed to have been recorded at a nightclub in the country’s capital city, Abuja.
The young Bichi is well-known for showing off his wealth on social media.
However, his extravagant displays have often been criticised by netizens, particularly on Instagram where he has a lot of followers, People’s Gazette reports.
His actions on the digital space have led to public discussions about his conduct, especially considering his father’s position as the head of the nation’s secret police.
Spraying of naira notes at public gathering is not only considered an offence according to The CBN Act 2007, section 21, sub-sections3 and 4, but it is also insensitive to the plight of Nigerians during the Yuletide due to the scarcity of currency. The act of spraying, dancing, or marching on the naira or any note issued by the Bank (CBN) during social occasions or otherwise is considered as abuse and defacing of the naira or such note. This act is punishable under sub-section (1) of this section.
SaharaReporters had reported in December how the scarcity of cash in banks reportedly adversely affected economic activities in Southeast Nigeria as residents struggled to buy foodstuffs and other items for the Yuletide.
Visits to commercial banks in Enugu, Ebonyi, Imo, Abia and Anambra states showed that banks ran out of cash in their Automated Teller Machines (ATMs).
Reacting to the alleged scarcity, the Central Bank of Nigeria had claimed that there were enough naira notes in circulation to meet cash needs in a statement signed by CBN’s Acting Director of Corporate Communications, Mrs Hakama Ali.
The apex bank, however, blamed the scarcity on the hoarding of naira notes by some persons due to the challenges they faced during the naira redesign policy of the previous administration of Muhammadu Buhari.
According to Ali, the CBN is monitoring the situation and has released sufficient cash to its branches nationwide for onward distribution to Deposit Money Banks.