The Central Bank of Nigeria (CBN) has warned Nigerians against abusing or hoarding the naira, stressing that such practices damage the integrity of the currency and increase maintenance costs.
The warning came during the launch of a public sensitization campaign in Abuja on Tuesday, with the theme, “Naira our pride: handle with care.”
CBN Deputy Governor for Operations, Bala Bello, represented by Dr. Adetona Adedeji, Director of Currency Operations and Branch Management, condemned the spraying of notes at events, mutilation, tearing, and writing on currency.
He described the naira as more than a legal tender, noting that it represents Nigeria’s sovereignty and shared identity.
“Careless practices—folding, tearing, spraying at social events, writing on notes, and outright mutilation—undermine the dignity of our national symbol and increase the costs of maintaining it,” he said.
Bello emphasized that protecting the naira requires collective responsibility, urging commercial banks, microfinance institutions, transport unions, traders’ associations, schools, religious bodies, civil society, and the media to collaborate with the apex bank.
The campaign is part of CBN’s broader strategy to reduce the misuse of notes and promote financial discipline, particularly as the festive season approaches when cash circulation increases significantly.
The CBN reaffirmed its commitment to preserving the value of the naira through strict enforcement measures while building partnerships that strengthen the financial system.
