CBN Governor, Yemi Cardoso
Central Bank of Nigeria (CBN)has launched the CBN Naira Ambassadors Club to promote respect for and proper handling of the Naira among young Nigerians.
CBN Governor Olayemi Cardoso inaugurated the club in the Federal Capital Territory with secondary school students as pioneer members. He said the Naira is legal tender that facilitates trade, supports economic activity, enables savings and investment, and serves as an expression of national identity and sovereignty.
Cardoso noted that banknotes carry portraits of distinguished Nigerians, national symbols and security features designed to preserve public confidence in the monetary system. He added that every Nigerian has a responsibility to treat the Naira with respect.
The CBN governor warned that defacing, mutilating or mishandling banknotes reduces their lifespan and increases replacement costs. He said the practice disrupts currency circulation and imposes financial burdens on the nation. He described preservation of the currency as a matter of national responsibility, not just an operational concern for the CBN.
CBN Deputy Governor, Operations, Emem Usoro said the initiative reflects the bank’s commitment to protecting the currency as a national asset. She listed abuses including writing on banknotes, stapling, spraying during celebrations, squeezing notes into pockets and other forms of mutilation. She said such practices reduce the lifespan of currency and diminish respect for a national symbol.
Usoro added that the initiative aims to empower young Nigerians with knowledge and values to advocate for proper currency handling in schools, families and communities.
Director of Currency Operations and Branch Management, Adetona Adedeji, said safeguarding the Naira is a shared civic duty. He said the campaign will be expanded nationwide to discourage spraying and other forms of currency abuse.
