CBN URGES NIGERIANS TO HANDLE NAIRA WITH CARE, PRIDE AND DIGNITY
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By: Fasasi Hammad
The Central Bank of Nigeria (CBN) has urged Nigerians, particularly traders, to handle the naira with care, pride and dignity to prolong its lifespan and reduce the cost of replacing soiled and mutilated notes.
Dr Adedeji Adetona, Director of Currency Operations and Branch Management, gave the advice on Monday in Kano during a roadshow and public awareness campaign on proper handling of the naira at Galadima Market.
Adetona, who was represented by Ibrahim Yahya, Deputy Director, Currency Operations Department, said the sensitisation campaign was aimed at taking the message of proper naira handling directly to the public, especially people who frequently engage in cash transactions.
He described the naira as a symbol of Nigeria’s sovereignty and national pride, stressing the need for Nigerians to handle the currency responsibly.
“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.
According to him, the CBN and the Federal Government spend substantial resources replacing currency notes that become dirty, soiled, spoiled or mutilated.
He said proper handling of the currency would help extend its lifespan and save resources that would otherwise be spent on replacing damaged notes.
“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.
He said the CBN began the sensitisation campaign at Galadima Market, with plans to extend the initiative to other markets across Kano State.
Adetona urged members of the public to handle the naira with pride and dignity, saying the campaign was designed to promote responsible handling of the national currency.
He explained that markets were selected as key points of engagement because they are major centres of exchange and cash transactions.
“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.
“Kano is a centre of commerce that records substantial cash transactions, making traders important stakeholders in efforts to promote proper handling of the currency,” he said.
Adetona noted that traders receive and handle cash frequently from customers and often accumulate the money before taking it to banks.
He said encouraging traders to properly handle the cash they receive was an important starting point in achieving the objective of preserving the naira.
“So we believe that when we talk to the traders themselves, that is the starting point.
“They accumulate cash and may be the part that they have used in their transactions and the remaining, they might likely take the remaining to the bank.
“So, we believe that proper handling by them as the first step will go a long way in achieving our objectives,” the director said.
He said the CBN would continue to engage relevant stakeholders and members of the public to raise awareness about the importance of preserving the naira.
Earlier, the Chairman of Galadima Market Traders Association, Shu’aibu Suleiman, said the market leadership would collaborate with the CBN to sensitise traders, particularly small-scale sellers, on the proper handling of naira notes.
Suleiman welcomed the CBN’s decision to select the market for the awareness campaign, saying it would promote responsible handling of the national currency.
He noted that the market has numerous small-scale traders, including fish sellers, who would be reached through the sensitisation programme.
Suleiman assured the CBN team of the market’s cooperation in extending the campaign to traders and customers, adding that continuous public awareness was necessary to encourage Nigerians to handle the naira properly and preserve its quality.
The News Agency of Nigeria reports that the CBN team also visited Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, ‘Yan Lemo and Dawanau International Grains Market as part of the sensitisation campaign.
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