CBN Campaigns for Proper Naira Handling as Yuletide Season Approaches
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has launched a nationwide sensitization programme on the proper handling of Naira notes as the yuletide season approaches.
The bank says it has made sufficient arrangements to ensure an adequate supply of banknotes to meet nationwide demand, but warns that poor handling of the currency continues to raise the cost of printing and replacement.
Speaking at the programme’s flag-off, the Deputy Governor, Operations at the CBN, Dr. Bala Mohammed Bello, said improper care of the nation’s currency notes frustrates daily transactions and weakens confidence in the national currency.
He also warned against cash hoarding, stating that “cash hoarding harms us all. It denies others access to cash, disrupts circulation, and puts undue strain on the system.”
Dr. Bello, whose address was delivered by Dr. Sikiru Adedeji Adetona, the Director of the Currency Operations and Branch Management Department, noted that “careless practices—folding, tearing, spraying at social events, writing on notes, and even outright mutilation—undermine the dignity of our national symbol and increase the costs of maintaining it.”
He continued by saying that if the notes are handled with care and all stakeholders collaborate, “we extend the lifespan of our currency, reduce avoidable costs, improve transaction efficiency, and reinforce the Naira as a true symbol of unity and pride.”
The Deputy Governor also said that the Naira is more than a means of payment, as it “represents our national pride, our sovereignty, and our shared destiny as a people.”
He called on all stakeholders to encourage responsible cash use, promote alternative payment platforms, and help curb hoarding practices. He added that every stakeholder has a critical role to play.
“Banks must continue to educate customers and ensure fit notes are always in circulation. Markets and transport operators must help discourage the rejection or abuse of Naira notes, the media and civil society must amplify the campaign and take the message into every household while all Nigerian citizens must see themselves as custodians of the Naira. This is how we will move from sensitization to true behavioral change,” he said.
Representing the Director of Currency, Mr. Kazeem Olatinwo, a Deputy Director at the bank, disclosed that the bank has “made sufficient arrangements to ensure adequate supply of banknotes to meet demand nationwide.”
He added that what is needed now is “proper handling to keep our notes clean and fit for use.” He also acknowledged the strong partnership between the CBN and its stakeholders, including the Abuja Chamber of Commerce, in delivering the program.
Hakama Sidi Ali, the Acting Director of the Corporate Communications Department at the CBN, said one of the bank’s objectives, as enshrined in sections 17, 18, and 19 of the CBN Act 2007, is to issue legal tender currency and ensure the availability of clean currency in line with the bank’s clean notes policy.
However, she said the CBN cannot do this alone. She stated that “it is the civic duty of every Nigerian to respect the Naira and keep it clean to safeguard its integrity. The Naira is our critical symbol of National identity. Do not spray, hawk, or mutilate it.”
The CBN says it is committed to enhancing Nigeria’s payment system and protecting customers’ rights and encouraged all Nigerians to explore the numerous alternative payment channels.
