The Central Bank of Nigeria (CBN) has assured Nigerians that there will be sufficient cash circulation during the forthcoming festive season, stressing that adequate arrangements have been made to meet nationwide demand.
Deputy Governor, Operations, Dr. Bala Mohammed Bello, gave the assurance in Abuja at the flag-off of the Nationwide Sensitization on Proper Naira Notes Handling. Represented by the Director, Currency Operations and Branch Management Department, Dr. Sikiru Adedeji Adetona, he said the Bank had taken proactive steps to prevent the recurring challenge of currency scarcity during the yuletide.
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Bello cautioned against practices such as folding, tearing, spraying at social events, writing on notes, and other forms of mutilation, stressing that they shorten the lifespan of the currency, increase replacement costs, and disrupt transactions. He also warned against hoarding, describing it as harmful to circulation and a strain on the financial system.
“The Naira is more than a means of payment. It represents our national pride, our sovereignty, and our shared destiny as a people,” he said, urging banks, markets, transport operators, civil society, and citizens to take responsibility for preserving the integrity of the currency.
Mr. Kazeem Olatinwo, a Deputy Director at the CBN, who represented the Director of Currency Operations, confirmed that arrangements had been made to meet the anticipated high demand for cash during the festive period.
Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, emphasized that the Bank’s responsibility to maintain clean notes is provided for under the CBN Act, 2007. She urged Nigerians to desist from spraying, hawking, or mutilating the Naira, describing it as a national symbol that must be respected.
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She added that the Bank remains committed to sustaining its clean notes policy while encouraging Nigerians to embrace alternative payment channels. The sensitization campaign will run nationwide across schools, markets, transport hubs, communities, and religious institutions, with the aim of fostering lasting behavioural change in handling the Naira.
