…Warns against naira abuse, hoarding
From Adanna Nnamani, Abuja
The Central Bank of Nigeria (CBN) has assured Nigerians that sufficient arrangements have been made to meet the demand for naira notes during the yuletide season, urging citizens to handle cash responsibly to preserve its integrity.
CBN Director of Currency Operations and Branch Management Department (DCOBMD), Mr Sikiru Adetona, disclosed this at the flag-off of a nationwide sensitisation campaign on proper naira notes handling in Abuja on Wednesday,
Represented by Mr. Kazeem Olatinwo, a Deputy Director, Adetona said the initiative themed: “Naira Our Pride: Handle with Care,” was not just about preserving currency but also building confidence in the naira.
He further described the campaign as a collective responsibility, emphasising that stakeholders including schools, markets, the NYSC, civil society groups and the media must partner with the CBN to educate Nigerians.
“As we approach the yuletide, the Bank has made sufficient arrangements to ensure adequate supply of banknotes to meet demand nationwide. What is needed is proper handling to keep our notes clean and fit for use.
“This campaign is much more than the proper handling of banknotes. It is about respect for our national symbol, confidence in our financial system, and a collective responsibility we all share,” he added.
Delivering the keynote address, the CBN Deputy Governor, Operations, Mr. Bala Bello, warned that careless handling of naira notes, including folding, tearing, spraying at social events, or writing on them, undermines the dignity of the national currency and raises the cost of replacement.
Bello also cautioned against cash hoarding, particularly ahead of the festive season, noting that such practices disrupt circulation and put undue pressure on the financial system. He urged Nigerians to explore alternative payment channels to reduce reliance on cash.
Represented by Adetona, he said: “The Naira is more than a means of payment. It represents our national pride, our sovereignty, and our shared destiny as a people. Unfortunately, careless practices undermine the dignity of our national symbol and increase the costs of maintaining it. This campaign is not just a Central Bank initiative; it is a call to collective action.”
On her part, Acting Director, Corporate Communications Department, Mrs. Hakama Ali, noted that respecting the naira is a civic duty.
According to her, “The naira is our critical symbol of national identity. Do not spray, hawk or mutilate it. From today, all Nigerians are implored to be advocates and ambassadors of clean naira notes.”
The apex bank said the sensitisation roadshow will extend from Abuja to schools, markets, motor parks and communities across the country to ensure the message reaches every citizen.
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