CBN urges traders to protect naira notes from damage

The Central Bank of Nigeria has urged Nigerians, particularly traders, to handle naira notes with care and dignity. Adedeji Adetona, director of Currency Operations and Branch Management, gave the advice in Kano on Monday during a roadshow at Galadima Market. He was represented by deputy director Ibrahim Yahya.

Adetona said the campaign aimed to reach people who frequently handle cash. The CBN considers the naira a symbol of national sovereignty and said careful use would extend the life of banknotes. He said the Federal Government and the central bank spend substantial resources replacing notes that become dirty, spoiled or mutilated.

Better handling, he said, could reduce those replacement costs. Markets were selected because they are major centres of cash transactions. Traders often receive and accumulate money before taking proceeds to banks, making them important participants in preserving the currency.

The campaign began in Kano and is expected to continue in other markets across the state. The CBN team also visited Sabon Gari Market, the abattoir, Yankaba Market, Tarauni Market, Yan Lemo and Dawanau International Grains Market. Galadima Market Traders Association chairman Shu’aibu Suleiman pledged cooperation, including efforts to reach small-scale sellers such as fish traders.