The Central Bank of Nigeria (CBN) has cautioned that careless handling and abuse of the naira are pushing up the cost of printing and replacing banknotes.
The warning was issued on Wednesday in Abuja during the flag-off of a nationwide sensitisation campaign on proper naira handling, themed “Naira Our Pride: Handle with Care.”
Deputy Governor, Operations Directorate, Dr Bala Bello, represented by Dr Adedeji Adetona, Director of Currency Operations and Branch Management, said the naira is more than a medium of exchange but a symbol of national pride and sovereignty.
“Unfortunately, careless practices—folding, tearing, spraying at social events, writing on notes, and outright mutilation—undermine the dignity of our national symbol and increase the costs of maintaining it,” he said.
Bello warned that if corrective action is not taken, poor handling would continue to drive up replacement costs, frustrate daily transactions, and weaken confidence in the currency.
He urged collaboration among banks, traders, transport unions, schools, civil society, religious organisations, and the media to change behaviours. “Every Nigerian must see themselves as custodians of the naira,” he added.
The Deputy Governor also cautioned against cash hoarding ahead of the festive season, stressing that it denies others access to money and strains the system.
In his remarks, Dr Adetona assured that sufficient notes would be made available during the yuletide, while CBN Acting Director of Corporate Communications, Hakama Sidi-Ali, reminded Nigerians that issuing and maintaining clean currency remain core mandates of the apex bank under the CBN Act 2007.
Currency expenses, which cover printing, distribution, processing, and disposal, have risen by over 300 per cent, driven largely by the printing of new notes, logistics of redistribution, and destruction of old banknotes.
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