The Central Bank of Nigeria, CBN, has appealed to Nigerians to treat the naira with greater care, warning that careless handling of banknotes is shortening their lifespan and increasing the cost of replacing damaged notes.
The appeal was made on Monday during a public awareness campaign at Galadima Market in Kano, where CBN officials took the message directly to traders and other heavy users of cash.
Representing the Director of Currency Operations and Branch Management, Dr Adedeji Adetona, Deputy Director, Currency Operations Department, Ibrahim Yahya, described the naira as a symbol of Nigeria’s sovereignty and national pride.
He urged Nigerians to stop treating banknotes carelessly and instead handle them with dignity.
“The Naira is the symbol of our sovereignty. It is our national pride, and we need to handle the Naira very carefully and effectively,” Adetona said.
The CBN said large amounts of public resources are spent withdrawing and replacing notes that become dirty, soiled, spoiled or mutilated.
According to the bank, extending the lifespan of existing notes through proper handling would reduce the frequency and cost of currency replacement.
“By handling the Naira carefully, we are extending the lifespan of that Naira and, by extension, saving a lot of money in terms of replacement of the Naira,” Adetona said.
The campaign focused heavily on traders because of the volume of cash they receive and handle daily.
Adetona said traders were a crucial starting point because they collect cash from customers, keep the proceeds during business transactions and eventually deposit the money in banks.
He said better handling of the notes at that point would help preserve their quality before they return to the banking system.
Kano was also identified as a strategic location for the campaign because of its status as a major commercial centre with substantial cash transactions.
The CBN team later extended the sensitisation exercise to other busy commercial locations, including Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, ‘Yan Lemo and Dawanau International Grains Market.
Chairman of the Galadima Market Traders Association, Shu’aibu Suleiman, pledged the cooperation of market leaders in educating traders, particularly small-scale sellers, on proper handling of naira notes.
He said continuous sensitisation was necessary to ensure that traders and customers understood the importance of preserving the national currency.
The CBN said it would continue engaging traders and other members of the public as part of efforts to promote responsible handling of the naira and reduce unnecessary damage to banknotes.
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