CBN Advises Nigerians on Proper Handling of Naira Notes
The Central Bank of Nigeria (CBN) has urged Nigerians to handle the local currency with care, stating that doing so would help extend its lifespan and reduce the cost of replacing damaged notes.
On September 28th, the Central Bank of Nigeria (CBN) appealed to Nigerians to be more mindful when handling naira notes. According to a statement by the apex bank, such careful handling would contribute to the prolongation of the currency’s lifespan and ultimately reduce costs associated with replacing soiled or damaged notes. The CBN has reportedly launched an awareness campaign in Kano State, reaching out to traders and residents, to emphasize the importance of proper naira note handling.
This call comes after several instances of mutilated currency found in circulation, which have increased the costs for the replacement of these damaged notes. While the CBN has not specified when this campaign began, it underscores a growing concern about the overall state of the Nigerian currency and its implications for the country’s economy.
Sources:
Premium Times Nigeria:
Daily Post Nigeria:
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