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Home»Economy»CBN launches campaign against Naira abuse, hoarding, assures adequate cash supply for yuletide
Economy

CBN launches campaign against Naira abuse, hoarding, assures adequate cash supply for yuletide

VardiafricaBy VardiafricaSeptember 24, 2025Updated:September 24, 2025No Comments5 Views
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The Central Bank of Nigeria (CBN) has launched a nationwide sensitisation campaign to educate Nigerians on proper handling of the naira, warning against practices such as spraying, selling, writing on, or mutilating banknotes.

The roadshow, themed “Naira Our Pride: Handle with Care,” kicked off in Abuja on Wednesday as part of the apex bank’s efforts to preserve the integrity of the national currency and reduce the huge costs of reprinting damaged notes.

CBN’s Deputy Governor, Operations Department, Mr. Bala Bello, represented by Dr. Sikiru Adetona, urged Nigerians to keep the naira clean, avoid folding or crushing it, and to always treat it as a national symbol. He reminded the public that naira abuse remains a punishable offence under Nigerian law.

“The naira is more than a means of payment; it represents our national pride, sovereignty, and shared destiny. Careless practices such as folding, tearing, spraying at social events, or outright mutilation undermine the dignity of our national symbol and increase the cost of maintaining it,” Bello said.

He also cautioned against hoarding of cash as the festive season approaches, noting that such actions disrupt circulation and strain the financial system. According to him, the CBN has made sufficient arrangements to ensure adequate supply of banknotes nationwide for the yuletide.

Bello called for multi-sectoral collaboration, urging banks, traders, transport unions, schools, civil society groups, religious organisations, and the media to join hands with the CBN in championing respect for the naira.

Director of Currency Operations, Mr. Kazeem Olatinwo, reiterated that the apex bank had ensured adequate supply of cash across the country, but emphasised the need for Nigerians to handle banknotes properly to maintain their quality.

Also speaking, Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, stressed that safeguarding the naira’s integrity was a civic duty. She encouraged Nigerians to support the CBN’s clean notes policy while embracing alternative payment channels.

“The naira is our critical symbol of national identity. Do not spray, hawk, or mutilate it. Every Nigerian must be an ambassador of clean naira notes,” she said

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