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CBN launches nationwide campaign on currency handling
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Nigerians urged to stop folding, spraying, mutilating notes
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Apex bank cautions against hoarding ahead of festive season
The Central Bank of Nigeria (CBN) has warned that the abuse of naira notes is driving up the cost of printing and replacement, stressing that careless practices are undermining the national currency.
The warning came on Wednesday in Abuja during the flag-off of a nationwide sensitisation campaign on proper naira handling.
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Deputy Governor, Operations Directorate, Dr Bala Bello, represented by Dr Adedeji Adetona, Director of Currency Operations and Branch Management, said poor handling of the naira was becoming too costly for the economy.
“The naira is more than a means of payment. It represents our national pride, sovereignty, and shared destiny as a people. Unfortunately, careless practices—folding, tearing, spraying at events, writing on notes, and outright mutilation—undermine the dignity of our national symbol and increase the costs of maintaining it,” he stated.
He warned that if nothing is done, Nigerians will continue to suffer the consequences, adding that “poor handling of notes will raise the cost of printing and replacement, frustrate daily transactions, and weaken confidence in the national currency.”
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The sensitisation campaign, themed “Naira Our Pride: Handle with Care,” will run nationwide, engaging banks, markets, schools, transport unions, religious groups, civil society, and the media.
Bello further cautioned Nigerians against hoarding cash, especially as the festive season approaches.
He explained that cash hoarding disrupts circulation, denies others access, and strains the financial system.
In a welcome address, Dr Adedeji Adetona, represented by Deputy Director Mr Kazeem Olatinwo, said the campaign is about both clean notes and public confidence in the financial system. He assured citizens of adequate cash supply during the yuletide.
Also speaking, Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali, reminded Nigerians that issuing legal tender and ensuring clean notes remain part of the CBN’s statutory mandate under the CBN Act 2007.
She urged citizens to embrace alternative payment systems to reduce the pressure on cash and protect the integrity of the naira.
