CBN Sends Message to Nigerians on How To Handle Naira Notes
- The CBN urged Nigerians to handle the naira with care and not to spray, mutilate, or counterfeit it
- The apex bank has described the Nigerian currency as a vital national symbol to be proud of
- CBN has introduced several reforms, including exchange rate unification and bank recapitalisation, among others
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Central Bank of Nigeria (CBN) has advised the public to exercise caution in handling naira notes privately and at public events.
The apex bank noted that the Nigerian currency should be treated as a vital national symbol.
Source: Getty Images
The call was made on Thursday, November 20, in Awka during a fair themed, “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development.”
The advisory comes ahead of the yuletide season, a period often marked by social festivities that can lead to misuse of the Naira through spraying, mutilation, and other improper practices.
Speaking at the event, Acting Director of Corporate Communications at the CBN, Hakama Sidi Ali, represented by Uche Tobias Nnamdi, urged Nigerians to rely only on official CBN channels for information and to preserve the integrity of the naira, the Sun reports.
She stated:
“Refrain from spraying, hawking, mutilating, or counterfeiting the Naira. It is our essential national symbol.”
CBN reforms under Yemi Cardoso
The CBN official at the fair also spoke on key reforms implemented by the CBN in recent years to stabilise the economy, ThisDay reports.
Nnamdi noted that initiatives under the leadership of the CBN Governor have helped reduce inflation and stabilise the Naira against the US dollar.
CBN said:
“Over the past two years, significant reforms have been introduced to establish a robust foundation for Nigeria’s economic advancement, foster inclusive growth, create employment opportunities, and reduce poverty.
“These reforms include the unification of the exchange rate, bank recapitalisation, the introduction of the non-resident BVN, the BMatch System for foreign exchange trading, the Nigeria Payments System Vision 2028, and implementation of a 75 percent Cash Reserve Ratio on non-TSA public sector deposits, among other measures.”
Source: Getty Images
In a welcome address, the CBN Branch Controller in Awka, Mr. Akobundu Onwuchekwa, represented by Dr Onyemakonor Ogbe, said the fair offered a timely platform to educate the public and receive feedback on the bank’s initiatives.
He said.
“This occasion greatly assists the CBN in sensitising the public on its various policies and efforts."
The event featured lectures from CBN officials on available payment channels, tips for resolving issues with deposit banks.
Naira bounces back against dollar
Earlier, Legit.ng reported that the naira strengthened slightly against the US dollar on Thursday, November 20, 2025, in the forex market.
According to data from the Central Bank of Nigeria, the Nigerian currency closed at N1,452.13 per dollar on Thursday, stronger than N1,454.18 on Wednesday.
Traders expect short-term volatility to continue, but improving foreign reserves give CBN firepower to defend the naira.
Source: Legit.ng
