The Central Bank of Nigeria (CBN), on Wednesday, renewed its sensitisation on proper handling of the Naira through the flag-off of a road show in Abuja.
Officials of the apex bank at the flag-off, urged Nigerians to always keep banknotes clean, avoid folding or crushing them, and to use proper storage.
Dr Bala Bello, CBN’s Deputy Governor, Operations Department, said that the campaign was much more than handling of Naira notes.
Bello, who was represented by Dr Adedeji Adetona, Director, Operations and Branch Management Department, said the campaign was to respect Nigeria’s national symbol.
“It is about confidence in our financial system, and a collective responsibility we all share.
“As we approach the yuletide, the CBN has made sufficient arrangements to ensure adequate supply of banknotes to meet demand nationwide.
“What is needed is proper handling to keep our notes clean and fit for use,” he said.
He acknowledged the strong partnership between the CBN and its stakeholders, including the Abuja Chamber of Commerce in delivering the programme.
“Together, let us spread this message to our schools, our markets and our communities, and become ambassadors of proper handling of the naira banknotes, ” he said.
In his own speech delivered by Kazeem Olatinwo, a Deputy Director, Adetona said that the flag-off was the beginning an important journey to strengthen the integrity of the national currency.
He said that it would also strengthen the partnerships that sustain the financial ecosystem.
Adetona said that the Naira was more than a means of payment.
“It represents our national pride, our sovereignty, and our shared destiny as a people.
“Unfortunately, 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.
“This campaign, themed “Naira Our Pride: Handle with Care,” is not just a Central Bank initiative; it is a call to collective action.
“The Central Bank cannot succeed in this mission alone,” he said.
According to him, to truly change behaviours and instill respect for the Naira, we need the collaboration of all stakeholders,” he said.
He listed such stakeholders to include commercial banks, microfinance institutions, transport unions, traders associations, market leaders, schools, religious organisations, civil society and the media.
“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 sensitisation to true behavioural change,” he said.
Adetona said that if not checked, poor handling of Naira notes would continue to raise the cost of printing and replacement of the currency.
He said that it would also cause frustration in everyday transactions, and weaken confidence in the national currency.
“However, if we handle our notes with care and collaborate across all sectors, we extend the lifespan of our currency.
“This will reduce avoidable costs, improve transaction efficiency and reinforce the Naira as a true symbol of unity and pride.
“As the yuletide season approaches, I must also emphasise that cash hoarding harms us all.
“It denies others access to cash, disrupts circulation, and puts undue strain on the system.
“Again, collaboration is important. I therefore call on all stakeholders to encourage responsible cash use, promote alternative payment platforms, and help curb hoarding practices,” the director said.
Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications Department, of the CBN, said that one of the objectives of the apex bank is to ensure the availability of clean currency.
Sidi-Ali said that this was in line with the clean notes policy of the CBN.
“However, the CBN cannot do this alone. 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 is committed to enhancing Nigeria’s payment system and protecting customers’ rights. We encourage all Nigerians to explore the numerous alternative payments channels. From today, all Nigerians are implored to be advocates and ambassadors of clean Naira notes,” she said.
