Again, CBN warns Nigerians against spraying, writing on Naira

As the festive season approaches, the Central Bank of Nigeria (CBN) has warned Nigerians not to abuse or hoard the naira.

At the launch of its new campaign in Abuja, the CBN said poor handling of the naira increases the cost of maintaining the currency.

The Deputy Governor of Operations, Mr. Bala Bello, represented by Dr. Adetona Adedeji, Director of Currency Operations and Branch Management, condemned spraying money at parties, writing on notes, folding, tearing, or mutilating them.

With the theme “Naira Our Pride: Handle With Care,” Bello explained that the campaign is meant to protect the integrity of the naira and promote cooperation among stakeholders in the financial system.

He said, “The naira is more than just a means of payment. It represents our national pride, sovereignty, and shared destiny.

Unfortunately, careless practices like spraying money at events, tearing or writing on notes, and mutilation destroy its dignity and make it expensive to maintain.”

He added that the CBN cannot achieve this goal alone, stressing the need for support from banks, microfinance institutions, transport unions, traders, schools, religious bodies, civil society, and the media.