The Central Bank of Nigeria (CBN) has issued a call for prudence in the handling of naira notes, characterizing the currency as an indispensable emblem of national pride.
This appeal was made on a Thursday in Awka during a fair centered around the theme, “Driving Alternative Payment Channels as Instruments for Financial Inclusion, Expansion, and Accelerated Economic Progress.”
The advisory arrives as the festive season approaches, a time often brimming with numerous social gatherings that frequently result in the negligent use of naira notes through practices like spraying, defacement, and other forms of improper handling.
The Acting Director of the Corporate Communications Department at the Central Bank of Nigeria, Mrs. Hakama Sidi Ali, who addressed the attendees at the fair, reiterated the crucial importance of responsible currency management.
In a separate statement, it was noted that Nnamdi Kanu had been quietly moved to Sokoto prison, as disclosed by Sowore.
She stated, “We earnestly recommend that you rely exclusively on information conveyed through the verified official channels of the Central Bank of Nigeria. I also urge you to uphold and safeguard the esteemed integrity of the Naira.
“Please abstain from practices such as spraying, hawking, defacing, or counterfeiting the Naira. It is our vital national symbol.”
The acting director, who was represented by Uche Tobias Nnamdi, a bank official, elaborated on several reforms undertaken by the CBN, which he noted have played a pivotal role in curbing inflation and stabilizing the naira against the dollar.
In a related context, Atiku has urged Tinubu to declare a state of emergency regarding insecurity.
He remarked, “Over the last two years, the governor has spearheaded significant reforms designed to lay a solid groundwork for Nigeria’s progress into its next economic era, promoting inclusive growth and creating job opportunities to alleviate poverty.
“Some of these reforms include the unification of the exchange rate, bank recapitalization, the introduction of the non-resident BVN to connect Nigerians abroad with domestic banking services, the BMatch System for foreign exchange trading, and the unveiling of the Nigeria Payments System Vision 2028 (PSV 2028).
“Additionally, a 75 percent Cash Reserve Ratio (CRR) has been implemented for non-Treasury Single Account (TSA) public sector deposits to enhance liquidity management and mitigate potential inflationary pressures, among other initiatives.”
In a welcoming address, the Branch Controller of the CBN in Awka, Mr. Akobundu Onwuchekwa, as represented by Dr. Onyemakonor Ogbe, Head of the Banking Services Office, noted that the CBN fair would serve to raise public awareness regarding the bank’s policies and ongoing initiatives.
He stated, “This occasion is extremely timely and provides a valuable opportunity for feedback and also greatly aids the Central Bank of Nigeria in enlightening the public about various initiatives of the bank.”
The fair featured informative lectures from bank officials on the various available payment channels and guidance for resolving issues with deposit banks. It was well attended by heads of commercial banks, microfinance banks, students, corps members, security representatives, and other members of the community.
