We’ll continue to make clean Naira notes available

• Organises fair on alternative payment channels, financial inclusion

From Laide Raheem, Abeokuta

The Central Bank of Nigeria (CBN) has renewed its commitment to ensure the availability of clean currency, the Naira, to Nigerians.

The country’s Apex Bank equally urged Nigerians to see the Naira as a critical symbol of national unity; hence, they should respect and keep it clean.

Mrs Hakama Sidi Ali, the Acting Director, Corporate Communications Department, Central Bank of Nigeria, stated this on Thursday, August 14, 2025, in her remarks at the CBN Fair, held in Abeokuta, the Ogun State capital.

She noted that the nation’s currency is an important national symbol which must be handled with the utmost care by Nigerians, insisting the CBN would not allow anyone to spray, hawk, mutilate, or counterfeit the Naira.

“The CBN will continue to ensure the availability of clean currency. We, however, urge you to see the Naira as our critical symbol of national identity. Respect and keep it clean. Do not spray, hawk, mutilate, or counterfeit the Naira,” she stressed.

She explained that the CBN Fair, with the theme “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development”, was carefully chosen to address the imperative of value addition and the links that catalyse SMEs and other economic activities to attain the much-needed price stability.

Mrs Sidi Ali added that the Fair is designed as a platform to interact with members of the public and critical stakeholders on the policies of the Central Bank of Nigeria for the sustainable economic growth and development of Nigeria.

She pointed out that the management of the CBN, under the leadership of Olayemi Cardoso, is committed to stimulating productivity and financial inclusiveness as well as delivering on its core mandate of monetary and price stability.

According to her, steps taken by the Cardoso-led management have resulted in a significant increase in the inflow of foreign investments, positive trade balances, and a quantum leap in the financial inclusion rate in recent times.

“Over the past twenty-two months, the Bank has, among others, rolled out the following functional policies to strengthen the financial system: exchange rate unification to minimise arbitrage opportunities and reduce volatility in the foreign exchange market and cleared over 7 billion dollars of verified backlog of FX forwards; launch of Nigeria Foreign Exchange (FX) Code; bank recapitalisation to strengthen the resilience and global competitiveness of the banking sector; launched the non-resident BVN to connect Nigerians abroad with home; launched the Unified Complaints Tracking System (UCTS), among other policies,” she stated.

Mrs Sidi Ali, who submitted that the core objective of the Fair is to sensitise members of the public on how the Bank’s policies and innovations can enhance their lives and livelihoods and contribute to the growth and development of the Nigerian economy, however, urged participants to avail themselves of the benefits of financial inclusion and alternative payment channels discussed at the event.

CBN Branch Controller, Abeokuta Branch, Malik Adebola Ololade, in his welcome address, said that the CBN Fair is one of the Bank’s major public enlightenment initiatives aimed at sensitising members of the public on the Bank’s policies, programmes, and interventions.

He added that it also serves as a platform to deepen financial literacy, promote transparency, and strengthen trust between the Bank and the Nigerian people.

“Over the years, the Fair has evolved into a veritable channel for fostering two-way communication between the Central Bank and the grassroots. It enables us not only to explain our policies but also to listen to your concerns, feedback, and expectations. This year’s event continues that tradition, and I encourage everyone here to actively participate in the discussions.

“As we navigate the evolving economic landscape—both globally and locally—the need for increased public awareness of monetary policy, financial inclusion, consumer protection, digital payments, and intervention programmes cannot be overemphasised. The CBN remains committed to ensuring a sound financial system and an inclusive economy where every Nigerian can thrive,” he stated.