The Oluwo of Iwoland, Oba Abdulrosheed Adewale Akanbi, criticized the recent legal actions taken by the Economic and Financial Crimes Commission (EFCC) against naira misuse, deeming it a misdirected effort. He emphasized that the tradition of money spraying holds deep cultural significance for the Yoruba and Igbo communities,Daily Trust reports.
In a statement released by his press secretary, Alli Ibrahim, the Oluwo highlighted the cultural inclination towards extravagant spending during celebratory occasions. He suggested that public awareness of potential penalties for naira misuse would help curb such practices, urging the EFCC to prioritize educating Nigerians before enforcing punitive measures.
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The monarch urged caution from EFCC operatives and recommended a shift in focus towards educating the public about proper naira handling and the consequences of violating regulations. While acknowledging the EFCC’s efforts in recovering embezzled funds, he stressed the importance of comprehensive enlightenment campaigns.
In essence, the Oluwo emphasized the need for balanced enforcement and public education to address naira abuse effectively, while also advocating for stringent punishment for corrupt officials.
