The Central Bank of Nigeria (CBN) has urged Nigerians, particularly traders, to handle the Naira with care, pride, and dignity. This, according to the apex bank, will extend its lifespan and reduce the cost of replacing soiled and mutilated notes. The CBN commenced the sensitisation campaign at Galadima Market in Kano, with plans to take the message to other markets across the state.
Dr. Adedeji Adetona, Director, Currency Operations and Branch Management, gave the advice in Kano on Monday during a roadshow and public awareness campaign on proper handling of the Naira. Represented by Mr. Ibrahim Yahya, Deputy Director, Currency Operations Department, Adetona said the sensitisation was aimed at taking the message of proper handling of the Naira directly to the people, particularly those who frequently engage in cash transactions.
Adetona described the Naira as a symbol of Nigeria's sovereignty and national pride, while stressing the need for Nigerians to handle the currency carefully and effectively. He advised that proper handling of the currency would help extend its lifespan and save resources that would otherwise be spent on replacing damaged notes. The CBN and, by extension, the Federal Government, spend substantial resources replacing currency notes that become dirty, soiled, spoiled or mutilated.
According to Adetona, the CBN had commenced the sensitisation campaign at Galadima Market in Kano, with plans to take the message to other markets across the state. He urged members of the public to handle the Naira with pride and dignity, saying the campaign was intended to encourage responsible handling of the national currency. Markets were selected as major points of engagement because they were important centres for exchange and cash transactions.
Adetona said traders receive and handle cash frequently from customers and, in many cases, accumulate the money before taking the proceeds to banks. Ensuring that traders properly handle the cash they receive from customers is an important starting point in achieving the objective of protecting the Naira. The CBN would continue to engage relevant stakeholders and members of the public to create greater awareness on the importance of preserving the Naira.
The Chairman of Galadima Market Traders Association, Shu'aibu Suleiman, welcomed the CBN's decision to select the market for the awareness campaign, saying it would help promote responsible handling of the national currency. He noted that the market has many small traders, including fish sellers, who would be reached through the sensitisation programme. Suleiman assured the CBN team of the market's cooperation in taking the campaign to traders and customers.
Continuous public awareness is necessary to encourage members of the public to handle the Naira properly and preserve its quality. The CBN's campaign aims to promote a culture of responsible handling of the national currency, and the apex bank is committed to engaging with stakeholders to achieve this objective. The campaign is expected to cover various markets and communities across the country.
Key points
- The CBN has commenced a sensitisation campaign to promote proper handling of the Naira.
- The campaign aims to encourage responsible handling of the national currency and reduce the cost of replacing soiled and mutilated notes.
- The CBN will continue to engage relevant stakeholders and members of the public to create greater awareness on the importance of preserving the Naira.
