Ogun Monarch Suspended for Abusing Naira Notes

The Egba Traditional Council in Nigeria has suspended the Olu of Owode, Oba Kolawole Sowemimo, for allegedly abusing the naira notes.

The monarch was caught in a viral video wrapping knitted N1,000 notes around the neck of a popular Fuji musician, Wasiu Ayinde, also known as KWAM 1, during a party.

This act contravenes the Central Bank of Nigeria (CBN) regulations, which state that defacing or abusing the Nigerian currency is an offence punishable by law.

The National Orientation Agency (NOA) had previously warned the monarch of the possible consequences of his actions, including imprisonment.

The Egba Traditional Council, headed by the Alake of Egbaland, took the matter seriously and appointed a three-member Ethical Committee to investigate the incident.

After examining the viral video, the committee concluded that Oba Sowemimo’s actions were in contradiction of Section 21(1) of the Central Bank Act, 2007.

As a result, the council decided to suspend the monarch for two months without salary and banned him from attending any government or public functions as a traditional ruler for a period of three months.

The council emphasized that Oba Sowemimo should not be invited or seen at any such events during the suspension period.

The Olowu of Owu, Oba Saka Matemilola, who chaired the Ethical Committee, read the report and explained that the decision was taken to protect the reputation of the traditional institution and to address the public outcry that followed the incident.

Oba Sowemimo has since apologized for his actions and accepted the council’s verdict, stating that he understands the importance of being held accountable for his actions.

This incident serves as a reminder to all citizens of Nigeria about the importance of respecting and upholding the integrity of the country’s currency and the laws that govern it.