The Central Bank of Nigeria (CBN) has issued a strong warning against practices such as spraying, hawking, mutilating, or counterfeiting the Naira. The announcement was made by Mrs. Hakama Sidi Ali, Acting Director of the Corporate Communications Department of the CBN, during the bank’s Special Day at the ongoing 36th Enugu International Trade Fair.
Mrs. Ali stressed that the Naira represents more than just currency; it is a vital symbol of national identity. "We urge the public to recognize the Naira as a key element of our national identity. It is crucial to treat it with respect, keep it clean and avoid any actions such as spraying, hawking, mutilating, or counterfeiting," she said.
In her remarks, Mrs. Ali reassured the audience that the CBN is committed to ensuring a consistent supply of clean currency notes while actively addressing various macroeconomic challenges facing Nigeria. "As of the end of 2024, Nigeria recorded a balance of payments surplus of $6.83 billion. Our goal is to maintain a robust and resilient banking system," she noted.
She also highlighted the CBN's ongoing efforts to oversee the recapitalization of the banking sector, aiming to inject quality capital into the financial system as outlined in its regulatory framework.
Additionally, Mrs. Ali pointed out that Nigeria's payment system has received international recognition, with the CBN dedicated to maintaining an efficient payment infrastructure. "These advancements have significantly improved financial inclusion and expanded payment options for Nigerians, making transactions more seamless, cost-effective, and accessible," she concluded.
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