Market News

 By : Lawrence Njoku

THE Central Bank of Nigeria (CBN), yesterday, said that proper handling of the currency is an essential part of improving financial culture and strengthening the payment ecosystem. The CBN restated its earlier warning for Nigerians to desist from abusing the naira, saying the national currency is a symbol that deserves respect and proper handling.

Speaking at the CBN Fair held in Enugu, the Acting Director of the Corporate Communications Department, Mrs Hakama Sidi Ali, urged citizens to “respect and maintain the cleanliness of the Naira,” stressing that abuse of the currency remains a punishable offence.

“We strongly appeal to all Nigerians not to spray, hawk, mutilate or counterfeit Naira. It is our vital national symbol,” she said. Ali also advised the public to rely strictly on verified information from the bank’s official channels to avoid misinformation, particularly regarding currency policies and regulations.

She said the apex bank remains committed to reforms that are already stabilising the financial system, adding that “disciplined monetary tightening, exchange rate unification and improved transparency” have produced improvements in inflation, reserves and the FX market.

According to her, the CBN leadership under Mr Olayemi Cardoso has taken several steps to entrench stability, including bank recapitalisation, the launch of the non-resident Bank Verification Number (BVN), and ongoing reforms in the payments system.

Welcoming participants earlier, the CBN Enugu Branch Controller, Justice Agbeze, represented by Uche Ezike, also emphasised the importance of responsible currency handling. He reminded the audience that the clean notes policy is central to the bank’s consumer protection and financial literacy efforts.

“This engagement gives everyone—banks, businesses, students, and the general public—a clearer understanding of how the CBN’s policies, including proper currency management, affect daily transactions,” he said.

The fair brought together experts from key CBN departments to educate stakeholders on payment system improvements, consumer rights, microfinance operations, and currency management processes. Both officials encouraged participants to ask questions and engage fully, noting that sustainable financial inclusion and economic development depend on public cooperation and responsible use of the Naira.