The Central Bank of Nigeria has urged Nigerians, particularly traders, to handle the naira with care, pride and dignity to extend its lifespan and reduce the cost of replacing soiled and mutilated notes.
Dr Adedeji Adetona, Director, Currency Operations and Branch Management, gave the advice in Kano on Monday during a roadshow and public awareness campaign on the proper handling of the naira at Galadima Market.
Represented by Mr Ibrahim Yahya, Deputy Director, Currency Operations Department, Adetona said the sensitisation was aimed at taking the message of proper handling of the naira directly to the people, particularly those who frequently engage in cash transactions.
He described the naira as a symbol of Nigeria’s sovereignty and national pride, while stressing the need for Nigerians to handle the currency carefully and effectively.
“The key message is about proper handling of the Naira. The Naira is the symbol of our sovereignty. It is our national pride, and we need to handle the Naira very carefully and effectively,” he advised.
According to him, the CBN and, by extension, the Federal Government, spend substantial resources replacing currency notes that become dirty, soiled, spoiled or mutilated.
He said proper handling of the currency would help extend its lifespan and save resources that would otherwise be spent on replacing damaged notes.
“We believe that by handling the Naira carefully, we are extending the lifespan of that Naira and, by extension, saving a lot of money in terms of replacement of the Naira,” Adetona said.
He said the CBN had commenced the sensitisation campaign at Galadima Market in Kano, with plans to take the message to other markets across the state.
Adetona urged members of the public to handle the naira with pride and dignity, saying the campaign was intended to encourage responsible handling of the national currency.
He explained that markets were selected as major points of engagement because they were important centres for exchange and cash transactions.
“We believe the market is the major place for exchange transactions. People bring cash and we understand the strategic nature of Kano in terms of commerce.
“Kano is a centre of commerce that records substantial cash transactions, making traders important stakeholders in efforts to promote proper handling of the currency,” he said.
Adetona said traders receive and handle cash frequently from customers and, in many cases, accumulate the money before taking the proceeds to banks.
According to him, ensuring that traders properly handle the cash they receive from customers is an important starting point in achieving the objective of protecting the naira.
“So we believe that when we talk to the traders themselves, that is the starting point.
“They accumulate cash and may be the part that they have used in their transactions and the remaining, they might likely take the remaining to the bank.
“So, we believe that proper handling by them as the first step will go a long way in achieving our objectives,” the director said.
He said the CBN would continue to engage relevant stakeholders and members of the public to create greater awareness of the importance of preserving the naira.
Earlier, the Chairman of Galadima Market Traders Association, Shu’aibu Suleiman, said the market leadership would collaborate with the CBN to sensitise traders, particularly small-scale sellers, on the proper handling of naira notes.
He welcomed the CBN’s decision to select the market for the awareness campaign, saying it would help promote responsible handling of the national currency.
He noted that the market had many small traders, including fish sellers, who would be reached through the sensitisation programme.
Suleiman assured the CBN team of the market’s cooperation in taking the campaign to traders and customers.
He said continuous public awareness was necessary to encourage members of the public to handle the naira properly and preserve its quality.
The News Agency of Nigeria (NAN) reports that the CBN team visited Galadima Market, Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, ‘Yan Lemo and Dawanau International Grains Market.
NAN
