Poor handling of the naira is responsible for the rising cost of printing the Nigerian currency, the Central Bank of Nigeria (CBN) has said. The Deputy Governor, Operations Directorate of the CBN, Bala Bello, stated this in Abuja during the flag-off of the nationwide sensitisation on proper naira notes handling.

Represented by the Director, Currency Operations and Branch Management Department of the apex bank, Dr Sikiru Adetona, Bello submitted that naira abuse causes frustration during transactions and weakens confidence in the currency.

He added: “If we do not act today, poor handling of our notes will continue to raise the cost of printing and replacing the currency, cause frustration in everyday transactions, and weaken confidence in our national currency.”

Speaking on the theme of the sensitisation exercise, ‘Naira Our Pride: Handle with Care’, Bello hinted that the exercise kick-starts the process of strengthening the integrity of the naira.

He argued that the naira is more than a means of payment; it represents Nigerians’ national pride, their sovereignty, and their shared destiny as a people.

“Unfortunately, careless practices — folding, tearing, spraying at social events, writing on notes, and even outright mutilation — undermine the dignity of our national symbol and increase the costs of maintaining it. This campaign, themed ‘Naira Our Pride: Handle with Care’, is not just a Central Bank initiative; it is a call to collective action,” he explained.

Bello noted that efforts to increase the integrity of the naira are not the responsibility of the CBN alone, but a collective responsibility of the Nigerian people.

He added that to change behaviours and instill respect for the naira, there is a need for collaboration among all stakeholders, including commercial banks, microfinance institutions, transport unions, traders’ associations, market leaders, schools, religious organisations, civil society, and the media.

While insisting that every stakeholder has a role to play, Bello urged banks to continue educating customers and to ensure fit notes are always in circulation.

He said: “Markets and transport operators must help discourage the rejection or abuse of naira notes. The media and civil society must amplify the campaign and take the message into every household, while all Nigerian citizens must see themselves as custodians of the naira. This is how we will move from sensitisation to true behavioural change.”

He maintained that the lifespan of the naira will be longer and healthier if Nigerians handle the currency better, and that collaboration across all sectors will lead to a reduction of avoidable costs, improved transaction efficiency, and reinforcement of the naira as a true symbol of unity and pride.

As the Yuletide beckons, Bello warned against cash hoarding, saying: “As the Yuletide season approaches, I must also emphasise that cash hoarding harms us all. It denies others access to cash, disrupts circulation, and puts undue strain on the system. Here again, collaboration is important. I therefore call on all stakeholders to encourage responsible cash use, promote alternative payment platforms, and help curb hoarding practices.”

He disclosed that the sensitisation exercise is scheduled to be held in the states, local councils, and some communities. He added, “The journey we flag off today will crisscross the nation from Abuja to every state and community. But the success of this effort will depend not only on the Central Bank but on how well we all work together to carry this message. Let us join hands — banks, traders, schools, transport unions, civil society, media, and everyday citizens — to ensure that the message resounds everywhere.”

On his part, Adetona revealed that the CBN has made sufficient arrangements to ensure an adequate supply of banknotes to meet demand nationwide during the Yuletide, adding that proper handling is required to keep the notes clean and fit for use.

The Acting Director, Corporate Communications Department of the CBN, Hakama Sidi Ali, said that while it is the responsibility of the apex bank to issue legal tender currency and to ensure the availability of clean currency in line with the clean notes policy of the Bank, it is the civic duty of every Nigerian to respect the naira and keep it clean.