Cardoso cautions against Naira spray, hawking, mutilation

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has issued a strong caution to Nigerians, urging them to cease the practices of spraying, hawking, and mutilating the Naira. Speaking at the CBN Fair in Kaduna on Thursday, Cardoso, who was represented by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, emphasized that such actions show a disrespect for the nation’s symbol of sovereignty.

The event, themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,” was organized to help the public better understand the CBN’s policies. Cardoso urged attendees to only rely on information from the bank’s official channels and to treat the national currency with respect.

The CBN governor explained that the fair was part of a broader effort to sensitize the public on how the bank’s policies are impacting lives and businesses. He reaffirmed the CBN’s commitment to boosting productivity and ensuring financial stability. According to Cardoso, recent reforms, including the unification of exchange rates and the clearance of over $7 billion in verified FX backlog, have begun yielding positive results. He also highlighted the launch of the Non-Resident BVN for Nigerians living abroad and the Nigeria Payments System Vision 2028 as key steps toward digital transformation and financial inclusion.

The CBN Controller, Kaduna Branch, Ahmad Dalhatu, said the fair served as a crucial platform to not only explain monetary policies but also to listen to citizens’ concerns and feedback, a practice he said helps in building public trust.