CBN warns Kano traders against mishandling Naira

The Central Bank of Nigeria (CBN) has cautioned traders and residents in Kano State to handle money responsibly, stating that abusing the currency raises costs associated with replacing damaged notes. The apex bank launched a public awareness campaign in Kano's main markets to promote the proper treatment of the naira. Speaking at Galadima Market, a CBN official explained that the naira represents Nigeria's sovereignty and national pride, and should therefore be treated with respect.

The CBN and the Federal Government have spent considerable funds on replacing currency that becomes dirty, damaged, or torn due to improper handling. According to the official, preserving the life of the naira through careful handling can save significant amounts of money by minimizing the need for replacements. The bank targeted markets as the starting point of the campaign due to their vital role in cash transactions, particularly in Kano, a major commercial hub.

Traders handle large sums of money from customers before depositing a portion in banks, making them key players in efforts to maintain currency quality. The CBN plans to extend the awareness campaign to other key markets in the state, including Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, Yan Lemo, and Dawanau International Grains Market.