Abuja: The Central Bank of Nigeria (CBN) has intensified its efforts to promote the proper handling of the Naira by launching a road show in Abuja. This initiative aims to educate the public on maintaining the integrity of the national currency by avoiding practices that can damage the notes, such as folding, crushing, or mutilating them.
According to News Agency of Nigeria, the CBN officials at the event emphasized the importance of treating the Naira with respect, as it is a national symbol and crucial for maintaining confidence in Nigeria’s financial system. Dr. Bala Bello, the Deputy Governor of the CBN’s Operations Department, represented by Dr. Adedeji Adetona, highlighted that the campaign extends beyond mere handling of banknotes. It is a call to action for the collective responsibility of all Nigerians to uphold the dignity of the Naira.
In his remarks, Adetona stated that the campaign, themed ‘Naira Our Pride: Handle with Care,’ marks the start of a significant journey to reinforce the integrity of the national currency and to strengthen partnerships within the financial ecosystem. He underscored the role of various stakeholders, including commercial banks, market leaders, schools, and media, in supporting this initiative to foster a change in behavior towards the Naira.
The CBN’s collaborative approach, involving key stakeholders such as the Abuja Chamber of Commerce, aims to take the message to a broader audience, encouraging Nigerians to act as ambassadors for the proper handling of the Naira. The campaign also addresses the economic implications of poor handling practices, which increase the cost of printing and replacing currency and can erode confidence in the Naira.
Mrs. Hakama Sidi-Ali, Acting Director of Corporate Communications at the CBN, reinforced the commitment of the apex bank to ensure the availability of clean currency in alignment with its clean notes policy. She called on all Nigerians to respect the Naira, avoid practices that damage it, and to utilize alternative payment channels to reduce reliance on physical cash.
The CBN’s initiative seeks to extend the lifespan of the currency, reduce costs, and maintain the Naira as a symbol of national pride and unity. With the yuletide season approaching, the CBN has assured an adequate supply of banknotes and calls for responsible cash usage to prevent hoarding and circulation disruptions.