Central Bank of Nigeria (CBN) has launched a nationwide campaign to address the abuse of the naira, which is driving up the cost of printing and replacing banknotes.
During the campaign flag-off in Abuja, the Deputy Governor of the Operations Directorate, Dr. Bala Bello stated that careless handling of the currency—including folding, tearing, spraying at events, and writing on notes—undermines the nation’s dignity and increases maintenance costs.
The campaign, titled “Naira Our Pride: Handle with Care,” aims to change behaviors and encourage respect for the currency. Bello emphasized that the CBN cannot achieve this alone and called for collaboration from various stakeholders, including banks, transport unions, traders, and the media.
He also cautioned against cash hoarding, especially with the upcoming festive season, noting that it disrupts circulation and strains the financial system. Dr. Adedeji Adetona, Director of Currency Operations, assured the public that the bank has made adequate arrangements to ensure a sufficient supply of banknotes for the festive period, but stressed the importance of proper handling to keep notes clean.
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