•Urges Nigerians to protect currency
By Emma Ujah, Abuja
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has launched the CBN Naira Ambassadors Club, a campaign aimed at promoting respect for and proper handling of the Naira among young Nigerians.
Speaking at the inauguration of the club, comprising secondary school students in the Federal Capital Territory, Cardoso said: “The Naira is much more than paper and polymer. It is the legal tender of the Federal Republic of Nigeria. It facilitates trade, supports economic activity, enables savings and investment, and serves as a visible expression of our national identity and sovereignty.”
He added: “Every banknote tells a story about our nation. It carries the portraits of distinguished Nigerians, national symbols and security features carefully designed to preserve public confidence in our monetary system.”
According to him, “Every Nigerian has a responsibility to treat the Naira with respect.”
Cardoso noted that “the Central Bank continually invests significant resources in producing clean, durable and secure banknotes to meet the needs of our economy,” warning that “when banknotes are defaced, mutilated or mishandled, they deteriorate more rapidly than expected. This increases replacement costs, disrupts the efficiency of currency circulation and imposes avoidable financial burdens on the nation.”
He stressed that “the preservation of our currency is therefore not merely an operational concern for the Central Bank; it is a matter of national responsibility.”
Deputy Governor, Operations, Ms. Emem Usoro, described the initiative as “CBN’s continuing commitment to protecting one of Nigeria’s most important national assets—our currency.”
She said: “Every nation takes pride in its currency because it represents more than a medium of exchange. It embodies national sovereignty, economic stability, public confidence and our collective identity as a people.”
Lamenting abuse of the currency, she stated: “Practices such as writing on banknotes, stapling, spraying during celebrations, squeezing notes into pockets, mutilation and other forms of abuse reduce the lifespan of our currency, increase replacement costs and diminish the respect due to one of our foremost national symbols.”
Usoro added: “Sustainable change must come through education, awareness and the cultivation of positive values from an early age. The vision behind this initiative is to empower young Nigerians with the knowledge, values and confidence to become advocates for proper currency handling within their schools, families and communities.”
Director of Currency Operations and Branch Management, Dr. Adetona Adedeji, said safeguarding the Naira is “a shared civic duty of every Nigerian,” adding that the campaign would be expanded nationwide to discourage spraying and other forms of currency abuse.
