The Central Bank of Nigeria (CBN) has intensified its campaign against the abuse of the naira, warning Nigerians to desist from spraying, mutilating, counterfeiting and hawking the national currency.
The CBN gave the warning in Kaduna during its Special Day at the Kaduna International Trade Fair, where it also highlighted key milestones recorded under its ongoing reform programme.
Deputy Director, Corporate Communications and Investor Relations, Hakama Sidi Ali, said respect for the naira was both a legal and civic responsibility, describing the currency as a symbol of national pride.
Represented by Abbas Ibrahim Ahmed, Deputy Director at the CBN Headquarters, Abuja, she said the bank would continue to enforce measures aimed at protecting the integrity of the currency while ensuring the steady circulation of clean and fit notes.
Hakama noted that the bank’s reform drive, under the leadership of Governor Olayemi Cardoso, was already yielding results in stabilizing the economy and restoring investor confidence.
According to her, major policy steps taken by the CBN include the unification of the foreign exchange rates, ongoing bank recapitalization to support the target of building a $1 trillion economy by 2030, the introduction of the Non-Resident Bank Verification Number (BVN) to integrate Nigerians in the diaspora, and the B-Match foreign exchange trading platform.
She also listed the Nigerian Payments System Vision 2028, the 75 per cent Cash Reserve Ratio on non-Treasury Single Account public sector deposits, and regulatory guidelines for stablecoins and virtual assets as part of broader efforts to strengthen liquidity management and deepen financial innovation.
