CBN has repeatedly warned against the abuse of the naira. / Photo: Getty Images

By Abdulwasiu Hassan

From gravity-defying Middle Eastern dancers to the sombrero-wearing Mariachi bands of Mexico, performers in cultures worldwide are often rewarded with a shower of currency, symbolising the audience's appreciation and respect for their art.

At Nigerian events, particularly private celebrations, it isn't uncommon to see the naira rain on an artist singing a popular traditional song or getting the guests to jive along to a peppy Afrobeat.

Among the more affluent, the cash rewards strewn across the floor could sometimes include foreign currencies such as the USD and euro.

The practice is generally considered socially and culturally acceptable, except when people inadvertently step on the cash lying on the floor.

In Nigeria, this was a party-circuit staple until recently, despite campaigns by the country's apex bank against what it terms "abusing the naira."

Then, the unexpected happened. A crackdown by the Economic and Financial Crimes Commission (EFCC), including at least one instance of a celebrity being jailed, triggered a collective gasp of alarm.

A social media influencer was also dragged to court for the same alleged offence. He had to shell out 10 million naira (US $7,474) for bail.

Fear of strict penalties

What the EFCC's penal steps against known faces have done is put the fear of a backlash in everyone.

"I am not abusing money," a popular Nigerian musician says in a recent video, alluding to his habit of distributing cash among slum residents.

"We help many people, especially those who make do with less in the trenches (poor neighbourhoods). If you see me throwing money, please forgive me. I am only giving money to people."

The video explaining his stand during a recent visit to Yoruba has gone viral.

"My fans, if I don't throw money these days, (know that) after God, it is government. If it is about money, open an account, and I will transfer money to you," he tells fans.

Apprehensions about the corruption watchdog hauling alleged violators to court aren't limited to celebrities. Ordinary citizens have become just as wary of being caught on the wrong side of the law with an act that used to be glossed over not long ago.

"Personally, I don't like spraying people with cash. I only do it occasionally because it's part of our tradition of showing appreciation to a performer," says a Nigerian woman who doesn't wish to be named.

"I feel like it's a way of playing my part in rejoicing with the celebrant, depending on the occasion," she tells TRT Afrika.

On the flip side, she believes strict enforcement of the ban on throwing cash during events "might reduce the wastefulness usually seen at these ceremonies."

"I suspect most people participate in this act just to show they belong, even though many might not be able to afford such profligacy. Some even borrow. I have seen people biting their fingers regretfully after spraying their money," she explains.

What the law says

Buhari Yusuf, a lawyer, says the naira is a piece of legal tender officially owned by the Federation of Nigeria and regulated by the Central Bank.

"As the custodian, the government has a legal right to prosecute anyone deemed to be disrespecting the national currency," he tells TRT Afrika. "Individuals only retain the value of the cash in their possession."

Although what constitutes "abuse" of the naira is open to interpretation, individuals found guilty of any such offence face a six-month jail term each, a fine of N50,000, or both.

"A reprieve is possible only if the alleged quantity of abused currency cannot be traced to a legitimate serial number," says Buhari.

Analysts say those who want to continue with the culture of gifting naira to performers at events need to be careful about how they treat the Nigerian currency.

"At least make sure you are not throwing currency at anyone and stepping on them," advises Buhari.

TRT Afrika