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CBN Warns Against Naira Abuse, Hoarding Of Currency
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9/24/2025, 11:33:31 PM
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9/25/2025, 7:08:17 AM
By Eniekenemi Atoukudu - 9/25/2025, 7:08:06 AM
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As the festive season approaches, the Central Bank of Nigeria (CBN) has cautioned Nigerians against abusing or hoarding the naira. The apex bank on Tuesday in Abuja launched a campaign against the mishandling of the national currency, stressing that such practices increase the cost of maintaining it. Deputy Governor (Operations), Mr. Bala Bello, urged Nigerians to embrace a change of attitude, noting that safeguarding the naira requires collective effort from all stakeholders. Represented by the Director of Currency Operations and Branch Management, Dr. Adetona Adedeji, Bello strongly condemned the spraying of naira notes at social events, as well as acts of mutilating, tearing, or writing on them. With “naira our pride: handle with care,” as its theme, Mr. Bello said the campaigned aimed to strengthen not only the integrity of the currency but also the partnerships that sustain the nation’s financial ecosystem. His words, “The naira is more than a means of payment. It represents our national pride, our sovereignty, and our shared destiny as a people. “Unfortunately, careless practices-folding, tearing, spraying at social events, writing on notes, and even outright mutilation undermine the dignity of our national symbol and increase the costs of maintaining it. “The Central Bank cannot succeed in this mission alone. To truly change behaviours and instill respect for the Naira, we need the collaboration of all stakeholders; commercial banks, microfinance institutions, transport unions, traders’ associations, market leaders, schools, religious organizations, civil society, and the media.”
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