Naira handling campaign by CBN highlights the high cost of currency abuse and calls for national cooperation to preserve Nigeria’s currency integrity
Naira handling campaign warnings are growing louder as the Central Bank of Nigeria (CBN) raises concerns over the rising cost of printing and replacing abused banknotes.
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The campaign was officially launched in Abuja, aiming to sensitise Nigerians on proper care for their national currency.
Dr Bala Bello, Deputy Governor of Operations, highlighted that careless practices such as folding, tearing, and writing on notes undermine the dignity of the naira and increase maintenance costs.
He stressed the naira represents national pride and sovereignty, urging citizens to treat it with respect.
“If we do not act today, poor handling of our notes will continue to raise the cost of printing and replacement of the currency, cause frustration in everyday transactions, and weaken confidence in our national currency,” Bello warned.
The nationwide campaign themed “Naira Our Pride: Handle with Care” calls for collaboration among banks, traders, transport unions, schools, media, and civil society to instil better habits. Bello also cautioned against cash hoarding, especially ahead of the festive season, highlighting how it disrupts cash circulation.
Dr Adedeji Adetona, Director of Currency Operations, assured Nigerians that sufficient banknotes will be available during the yuletide period, provided they are well-handled to remain clean and fit for use.
Hakama Sidi-Ali, Acting Director of Corporate Communications at CBN, emphasised that protecting the naira is a shared responsibility.
She encouraged wider adoption of alternative payment platforms to reduce reliance on cash.
Recent reports show that currency issue expenses surged by over 300 per cent in 2024, reaching N315.18bn—largely due to the cost of printing, processing, and replacing damaged notes.
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Through this campaign, the CBN hopes to extend the lifespan of the naira, reduce avoidable costs, and maintain its status as a symbol of unity and national pride.
Source: Read more at championnews.com.ng
