The Central Bank of Nigeria has raised the alarm that the abuse and poor handling of naira banknotes are significantly increasing the cost of printing and replacing them.
The warning came on Wednesday during the launch of a nationwide sensitisation campaign on proper naira handling, held in Abuja.
Delivering a keynote address, the Deputy Governor, Operations Directorate, Bala Bello, represented by the Director of Currency Operations and Branch Management Department, Adedeji Adetona, stressed that the naira is more than just a medium of exchange.
“The naira is more than a means of payment. It represents our national pride, our sovereignty, and our shared destiny as a people. 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,” Bello said.
He cautioned that unless corrective action is taken, Nigerians will continue to bear the financial consequences.
