By Jemimah Wellington, JKNewsMedia Correspondent
THE CENTRAL Bank of Nigeria (CBN) has warned that careless handling of the naira is raising costs and eroding public confidence in the national currency.
During the launch of a nationwide sensitisation campaign in Abuja on Wednesday, the Deputy Governor, Operations Directorate, Bala Bello, cautioned that practices such as folding, tearing, spraying at social events, writing on notes, and outright mutilation undermine the naira’s dignity and increase the cost of replacement.
The campaign, themed “Naira Our Pride: Handle with Care,” seeks to instil respect for the national currency and encourage behavioural change.
Bello, represented by the Director of Currency Operations and Branch Management Department, Adedeji Adetona, said the naira embodies more than its function as a medium of exchange.
“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,” he stated.
He warned that continued abuse of the naira would escalate replacement costs, cause frustration in transactions, and weaken confidence in the currency.
Bello also raised concerns about hoarding, especially during the festive period. “Cash hoarding harms us all. It denies others access to cash, disrupts circulation, and puts undue strain on the system.
“I therefore call on stakeholders to encourage responsible cash use, promote alternative payment platforms, and help curb hoarding,” he added.
Bello explained that proper handling would extend the lifespan of the naira, lower avoidable costs, and preserve its symbolic value.
He urged banks to educate customers and maintain only fit notes in circulation, while market operators and transporters must discourage rejection or abuse.
He noted that the media and civil society have a duty to amplify the message, and every citizen must act as a custodian of the naira.
Delivering the welcome address, Adetona, represented by Deputy Director Kazeem Olatinwo, said the initiative was designed to reinforce public confidence in Nigeria’s financial system.
“As we approach the yuletide, the Bank has made sufficient arrangements to ensure an adequate supply of banknotes nationwide.
“What is needed is proper handling to keep our notes clean and fit for use,” he explained.
The Acting Director of Corporate Communications, Hakama Sidi-Ali, also highlighted the legal mandate of the CBN.
She reminded Nigerians that the issuance of legal tender and the circulation of clean notes are obligations of the Bank under Sections 17, 18, and 19 of the CBN Act 2007.
Sidi-Ali stressed that the task of protecting the naira cannot rest solely with the apex bank.
“The CBN is committed to enhancing Nigeria’s payment system while protecting consumer rights.
“Citizens must embrace alternative payment platforms to reduce pressure on cash,” she said.
The sensitisation campaign is being rolled out nationwide with the aim of educating the public on responsible cash usage and reinforcing the naira as a symbol of national identity.
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