Green’s Dictionary of Slang

powder one’s nose v.

also powder one’s schnoz
[schnozzle n.; pun on SE euph. for visiting the lavatory]

(drugs) to take cocaine.

[US]B. McCarthy Vice Cop 94: ‘Every whore I ever arrested powdered her nose. You get rid of prostitutes by getting rid of cocaine’.
[UK]J.J. Connolly Layer Cake 20: Now you’ve powdered your nose, my bitta cash outta that comes to all the sixes — six thousand, six hundred and sixty-six quid.
[UK]J. Hawes Dead Long Enough 35: This was what was making her drink too much and powder her schnoz too regularly.
[Scot]I. Welsh Decent Ride 73: Jonty, ah’m jist huvin a wee bit ay a lievener [...] Wir jist powderin our noses.