CBN urges Kano traders, residents to handle naira notes properly

The Central Bank of Nigeria (CBN) has called upon traders and residents in Kano State to handle naira notes responsibly, warning that improper handling raises the expenses of replacing soiled and damaged currency. During a sensitisation campaign held at major markets throughout the state, the apex bank emphasized the significance of treating the naira with care.

Ibrahim Yahya, a representative of the CBN Currency and Operations Department, explained that the naira signifies Nigeria's sovereignty and national pride and should be treated with respect. He further disclosed that the CBN and the Federal Government incur substantial costs replacing notes that become dirty, worn out, or damaged due to negligent handling.

Yahya stated that the campaign targeted markets because of their crucial role in cash transactions, particularly in Kano, a prominent commercial hub. Traders, he noted, frequently handle large quantities of cash from customers before depositing a portion into banks, making them essential partners in preserving the currency's quality.

The representative explained that the campaign would extend beyond Galadima Market, which was chosen as the initial point due to its pivotal role in cash transactions in the state. Markets such as Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, Yan Lemo, and Dawanau International Grains Market were identified for the sensitisation exercise.

Yahya urged traders and users of the naira to handle the currency with "pride" and "dignity," asserting that proper handling would prolong the notes' lifespan and minimize the necessity for frequent replacements.