The Central Bank of Nigeria has urged Nigerians, particularly traders and other heavy cash users, to handle the naira with care and dignity to preserve the quality of the nation’s currency and reduce the cost of replacing damaged notes.
The apex bank said careless handling of banknotes contributes to the deterioration of the currency, forcing the Federal Government to commit substantial resources to replacing notes that become dirty, soiled, spoiled or mutilated.
The Director, Currency Operations and Branch Management, CBN, Dr Adedeji Adetona, stated this on Monday during a public awareness roadshow on proper handling of the naira at Galadima Market, Kano.
Adetona, who was represented by the Deputy Director, Currency Operations Department, Ibrahim Yahya, said the campaign was designed to take the message of responsible currency handling directly to Nigerians, especially traders who frequently receive and disburse cash.
He described the naira as a symbol of Nigeria’s sovereignty and national identity, urging citizens to treat the currency with greater care.
“The key message is about proper handling of the Naira. The Naira is the symbol of our sovereignty. It is our national pride, and we need to handle the Naira very carefully and effectively,” he said.
The CBN director explained that preserving banknotes through proper handling would extend their lifespan and reduce the financial burden associated with producing and replacing damaged currency.
According to him, the objective of the campaign is not only to improve the physical condition of the naira but also to encourage Nigerians to develop responsible habits when handling cash.
“We believe that 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.
Why traders are priority
The apex bank identified markets as strategic locations for the sensitisation campaign because of the volume of cash transactions carried out by traders and customers daily.
Adetona said Kano was particularly important because of its longstanding position as a major commercial centre with substantial cash transactions.
He said traders were among the first stakeholders that needed to be targeted because they receive cash from customers, keep the money during business operations and eventually take proceeds to banks.
“We believe the market is the major place for exchange transactions. People bring cash, and we understand the strategic nature of Kano in terms of commerce,” he said.
He added that encouraging traders to properly handle the currency at the point of receiving it from customers would contribute significantly to the CBN’s objective of preserving banknotes.
“So we believe that when we talk to the traders themselves, that is the starting point,” he said.
Adetona said the CBN would continue engaging stakeholders and members of the public to increase awareness about responsible handling of the naira.
Markets targeted across Kano
The sensitisation campaign, which commenced at Galadima Market, is expected to reach other major commercial centres across Kano State.
The CBN team also visited Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, ‘Yan Lemo and Dawanau International Grains Market as part of the awareness drive.
