The Central Bank of Nigeria has renewed its naira abuse warning, urging citizens to stop spraying, hawking, or mutilating the national currency.
CBN Governor Olayemi Cardoso, represented by Acting Director Hakama Sidi Ali, delivered the caution at the Kaduna CBN Fair on Thursday, calling the naira “our critical national symbol.”
Keeping the Naira Clean
Cardoso said spraying money at events, trading notes in black markets, and careless handling of banknotes demeans the nation’s identity. He stressed that the CBN will enforce existing laws against abuse, counterfeiting, and hoarding.
Beyond Symbolism: Reforms & FX Stability
The Governor also used the platform to highlight ongoing reforms: unification of exchange rates, clearance of $7bn FX backlogs, and recapitalisation of banks. He said these measures aim to stabilise the naira, restore investor confidence, and support Nigeria’s $1 trillion economy ambition.
Close/Transition:
The call to respect the naira comes as policymakers fight inflation and work to bridge the gap between economic reforms on paper and the realities faced by households.
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