Egbaland Traditional Council has suspended the Olu of Owode-Egba in the Obafemi/Owode local government area of Ogun State, Oba Kolawole Sowemino, for publicly abusing the Naira at a public function.

The suspended monarch had earlier been cautioned by the National Orientation Agency (NOA) for contravening Section 21 (3) of the Central Bank of Nigeria Act 2007 as amended, which stipulates that “spraying of, dancing or matching on the Naira or any note issued by the bank during social occasions or otherwise, constitutes abuse and defacing of the naira or such note and shall be punishable under the law by fines or imprisonment or both”.

The monarch had thereafter apologized for the infraction, saying he was carried away in his bid to celebrate his wife.

Sowemino, who was seen in a viral video decorating popular musician, Wasiu Ayinde Marshal, popularly known as KWAM 1, with knitted N1000 notes.

Announcing the suspension of Oba Sowemimo after the February statutory meeting of the council, held on Friday and chaired by the Alake and Paramount Ruler of Egbaland, Oba Adedotun Gbadebo, the council said it adopted the recommendation of its Ethical Committee, which said he should not be invited and not seen at any government or public function.

Oba Sowemimo will not also receive a salary during the period of the suspension, which lasts for two months.

Chairman of a three-member Ethical Committee of the council and Olowu of Owu, Oba (Prof.) Saka Matemilola, while reading the decision of the body, declared that the action of Oba Sowemimo breached the CBN Act and the Yoruba traditional institution.

He referred to precedence where a citizen was arrested and prosecuted by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and sentenced to six months imprisonment.

Oba Matemilola said, that before coming to the decision, the committee examined the viral video in which Sowemimo breached the ethics of a Yoruba traditional institution by defacing Nigeria’s currency.

Reacting to the development, the suspended monarch said he abides by the decision of the traditional council, saying that “father chastised the son he loves.

Speaking with newsmen in a telephone chat, Oba Sowemimo said, the suspension was initially for three months, but “when I apologized, the suspension was reduced to two months”.