CBN to Nigerians: Handle Naira with dignity
Central Bank of Nigeria Urges Careful Handling of Naira to Extend Lifespan of Banknotes
KANO — The Central Bank of Nigeria (CBN) has called on Nigerians, particularly traders, to handle the naira with care to enhance the longevity of banknotes and reduce the costs associated with replacing damaged currency.
Dr. Adedeji Adetona, the Director of Currency Operations and Branch Management at the CBN, made the announcement during a roadshow and public awareness campaign at Galadima Market on Monday. Adetona was represented by Mr. Ibrahim Yahya, Deputy Director of the Currency Operations Department.
The campaign aims to directly educate individuals involved in cash transactions about proper currency handling. Adetona emphasized the importance of the naira as a symbol of Nigeria’s sovereignty and national pride, urging the public to treat it with respect.
“The key message is about proper handling of the naira. It is our national pride, and we need to manage it carefully,” Adetona stated.
He noted that the CBN and the Federal Government invest significant resources in replacing banknotes that are dirty, soiled, or damaged. Proper handling of the currency, he argued, would not only extend its lifespan but also save funds on replacement efforts.
“We believe that by handling the naira carefully, we are prolonging its life and, consequently, saving a lot of money in terms of replacement,” he added.
The awareness campaign, which began at Galadima Market, is set to expand to other markets throughout Kano State. Adetona explained that markets were chosen as focal points due to their role as major centers of cash transactions, where traders frequently handle banknotes from customers.
“Kano is a hub of commerce, which accounts for substantial cash transactions. This makes traders key players in promoting the proper handling of the currency,” he said.
Adetona pointed out that traders typically accumulate cash from daily sales before depositing the proceeds in banks, highlighting their significance in efforts to encourage responsible currency management.
He reassured the public that the CBN remains committed to engaging relevant stakeholders and enhancing awareness regarding the preservation of the naira.
Shu’aibu Suleiman, Chairman of the Galadima Market Traders Association, expressed support for the initiative. He pledged the cooperation of market leaders in educating traders, especially small-scale sellers, about proper banknote handling.
Suleiman welcomed the campaign, indicating that many small traders, including fish sellers, would benefit from the initiative. He also called for ongoing public awareness to foster responsible handling of the naira.
Additionally, the CBN team has extended its outreach to other local markets, including Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, ‘Yan Lemo, and Dawanau International Grains Market as part of the sensitization efforts.
