Central Bank of Nigeria Urges Proper Handling of Naira to Preserve Its Lifespan

The Central Bank of Nigeria (CBN) is urging Nigerians, especially traders, to handle the naira with care and pride. This call came during a public awareness campaign at Galadima Market in Kano on Monday. The CBN aims to extend the lifespan of the naira and reduce the costs associated with replacing damaged notes.

Dr. Adedeji Adetona, who oversees currency operations at the CBN, emphasized that the naira is a symbol of Nigeria’s sovereignty and national pride. He stated that proper handling of the currency is essential. Adetona noted that the CBN spends a lot of money replacing notes that are dirty or damaged, and better care could save these resources.

The campaign at Galadima Market is the first step in a broader initiative to reach other markets in Kano. Adetona explained that markets are key locations for cash transactions, making them ideal for this message. Traders often handle cash frequently, and educating them is crucial for protecting the naira.

Shu’aibu Suleiman, the Chairman of the Galadima Market Traders Association, welcomed the CBN’s initiative. He expressed support for the campaign, stating that it would help small traders understand the importance of handling naira notes properly. Suleiman assured the CBN of the market’s cooperation in spreading this awareness.

The CBN plans to continue engaging with traders and the public to promote responsible handling of the naira. By doing so, they hope to preserve the quality of the currency and ensure its longevity.