Respect, Keep Naira Clean, CBN Urges Nigerians

The Central Bank of Nigeria (CBN) has urged Nigerians to respect and keep the Naira clean as it remained a critical symbol of national identity.

“Do not spray, hawk, mutilate or counterfeit the Naira even as the CBN will sustain its efforts towards ensuring the availability of clean currency notes with the right mix,” the acting Director, Corporate Communications Department, CBN, Mrs Hakama Ali, said.

Ali gave the warning on Saturday in Enugu during CBN Special Day at the ongoing 36th Enugu International Trade Fair with the theme: “Developing Nigeria Industrial Sector/SMEs for Economic Advancement and Global Recognition”.

The director noted that the CBN had continued to address pockets of macroeconomic challenges confronting the Nigerian economy and ensuring that the banking system remained robust and resilient.

According to her, in the same vein, the Bank is also closely monitoring the ongoing recapitalisation of the banking sector, to ensure the injection of quality capital as envisaged in the framework.

She said, “The Nigerian payments system has continued to be reckoned with globally. CBN has remained resolute in ensuring effective and efficient payments system infrastructure.

“This has accelerated the financial inclusion drive and broadened payment possibilities for Nigerians. These payment platforms have made financial transactions more seamless, cost-effective and accessible to a wide range of users.”

The director said that the apex bank achieving an impactful industrial development for global recognition “is premised on a tripod.”

“This includes robust financial systems fundamentals, foreign exchange market stability and strong collaboration between the monetary and fiscal authorities.

“The Bank’s efforts in these directions are already yielding the desired results. This has resulted in significant increase of inflow in foreign direct and portfolio investments and positive trade balance in recent times.

“Specifically, Nigeria recorded $6.83 billion balance of payments surplus at the end of 2024. which signals economic resurgence and a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022 financial years, respectively.

“This improvement reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance and renewed investor confidence in Nigeria’s economy,” she said.

Earlier, the President of Enugu Chamber of Commerce, Chief Odeiga Jideonwo, commended the CBN for policy measures to rebuilding stronger business confidence and ensuring stability in the economy particularly in the financial/banking sector.

“We are not unmindful of the various intervention schemes of the CBN to support and encourge the growth of business in various sectors of the economy.

“However, we counsel that more sustainable strategies and intervention schemes should be adopted,” Jideonwo said.