The Central Bank of Nigeria has launched a nationwide campaign against Naira abuse and hoarding, themed “Naira Our Pride: Handle with Care”.
This initiative aims to educate Nigerians on the proper handling and use of the national currency, particularly during the yuletide season. Speaking at the flag-off event in Abuja, Deputy Governor of Operations, Mr. Bala Bello, represented by Dr. Adetona Adedeji, emphasized the need for collective action to safeguard the nation’s currency.
Mr. Bello condemned practices such as spraying the Naira at social events, folding, tearing, mutilating, or writing on it. These actions, he noted, not only diminish the dignity of the national symbol but also increase the cost of printing and replacement. The CBN spent N315.18 billion on currency issue expenses in 2024, a significant increase from N77.67 billion in 2023, partly due to massive printing of new notes and destruction of old and damaged banknotes.
The campaign seeks to promote respect for the Naira and discourage abuse. According to Mr. Bello, “The Naira is more than a means of payment. It represents our national pride, our sovereignty, and our shared destiny as a people.” He stressed that careless practices undermine the currency’s integrity and weaken confidence in the national currency. The CBN is calling on all stakeholders, including banks, transport unions, traders, schools, civil society, and the media, to join forces in promoting responsible cash use and discouraging Naira abuse.
The CBN’s Acting Director of Corporate Communications, Hajiya Hakama Sidi Ali, urged Nigerians to respect the Naira, describing it as a “critical symbol of national identity”. She emphasized that cash hoarding harms everyone by denying others access to cash, disrupting circulation, and putting undue strain on the system. The bank encourages citizens to explore alternative payment platforms to reduce pressure on cash usage.
The campaign aims to reach every state and community across the country, promoting a change in behavior and instilling respect for the national currency. By working together, Nigerians can preserve the integrity and value of their national currency. According to Dr. Adedeji Adetona, the campaign is not only about clean notes but also about national pride and public confidence in the financial system.
The CBN has made sufficient arrangements to ensure an adequate supply of banknotes during the upcoming festive season. What is needed now is proper handling to keep the notes clean and fit for use. By adopting good practices, Nigerians can contribute to the stability and prosperity of their economy.
