The Central Bank of Nigeria has launched a campaign to encourage responsible handling of the naira, warning that poor treatment of the currency increases the cost of printing and replacing it. According to the Deputy Governor, Operations Directorate, Bala Bello, the naira represents national pride, sovereignty, and shared destiny, and its dignity is undermined by careless practices such as folding, tearing, and mutilation.

The “Naira Our Pride: Handle with Care” campaign aims to instill respect for the currency and promote behavioral change. Bello emphasized that the naira is more than just a medium of exchange, and its proper handling is crucial to maintaining its value and reducing the costs of printing and replacement. He also warned against cash hoarding, particularly during the festive season, as it disrupts circulation and puts undue strain on the system.

The campaign is part of the bank’s efforts to enhance the payment system and protect consumer rights. The Central Bank has made sufficient arrangements to ensure an adequate supply of banknotes nationwide, but proper handling is necessary to keep the notes clean and fit for use. The bank has spent a significant amount on currency issue expenses, with a 306% increase from ₦77.67bn in 2023 to ₦315.18bn in 2024.

The Central Bank is urging stakeholders, including banks, market operators, and citizens, to play a critical role in promoting responsible cash use and handling of the naira. The bank is committed to providing an efficient payment system, and citizens are encouraged to take ownership of protecting the currency. By handling the naira with care, Nigerians can help extend its lifespan, reduce avoidable costs, and preserve its symbolic value. As the festive season approaches, the Central Bank is reminding citizens of the importance of proper currency handling to maintain the integrity of the financial system.