The Central Bank of Nigeria (CBN) has reassured the public that there will be an ample supply of banknotes to accommodate the anticipated increase in cash demand during the upcoming festive season.
This commitment was made during the launch of a nationwide awareness campaign focused on the proper handling of naira notes, an initiative spearheaded by the CBN.
Bala Bello, the CBN’s Deputy Governor in charge of operations, emphasized that without a shift in how people treat currency, the ongoing mishandling of banknotes will continue to escalate printing and replacement expenses, cause inconvenience in daily financial transactions, and erode trust in the naira.
He strongly advised against the hoarding of cash, particularly as the holiday period nears. “With the festive season drawing close, it is important to highlight that stockpiling cash negatively impacts everyone. It restricts access for others, disrupts the flow of money, and places unnecessary pressure on the financial system,” Bello explained.
Representing the Deputy Governor, Dr. Sikiru Adedeji Adetona, Director of Currency Operations and Branch Management, assured Nigerians that the bank has made thorough preparations to ensure sufficient banknotes are available nationwide to meet seasonal demand. He stressed the importance of handling currency carefully to maintain its cleanliness and usability.
“By treating our currency with respect and working together across all sectors, we can extend the lifespan of our notes, cut down on avoidable expenses, enhance transaction efficiency, and strengthen the naira as a symbol of national unity and pride,” Adetona remarked.
Also speaking on behalf of the CBN, Deputy Director Mr. Kazeem Olatinwo highlighted that the campaign’s goal extends beyond keeping the naira physically clean; it aims to uphold public confidence in Nigeria’s financial system and honor the currency as a national emblem.
Hakama Sidi-Ali, Acting Director of Corporate Communications at the CBN, pointed out that the central bank alone cannot resolve the challenges related to currency misuse.
She called on all Nigerians to actively participate in the campaign against the mistreatment of the naira. “Starting today, every Nigerian is encouraged to become a champion and promoter of clean naira notes,” she urged.
Hakama further encouraged the public to utilize the many available alternative payment methods, assuring that the CBN remains dedicated to advancing Nigeria’s payment infrastructure and safeguarding consumer rights.
Bello also appealed to all relevant parties to foster responsible cash usage, advocate for digital payment options, and discourage the practice of hoarding.
The CBN acknowledged the vital collaboration with partners such as the Abuja Chamber of Commerce in driving this initiative forward.
Participants were encouraged to spread the message within their schools, marketplaces, and communities, emphasizing that the responsibility to promote proper naira note handling lies with every Nigerian.
“Let us unite-banks, merchants, educational institutions, transport unions, civil society groups, media outlets, and citizens alike-to ensure this message echoes far and wide: ‘The Naira is our pride. Treat it with care.'”
“Together, we can safeguard its integrity, maintain its value, and hand down to future generations a currency worthy of respect and pride,” he concluded.
