CBN Warns Kano Traders Against Naira Abuse, Says Naira Remains Symbol of National Pride

The Central Bank of Nigeria (CBN) has issued a stern warning to traders in Kano against the improper handling of Naira notes, emphasizing that the currency remains a symbol of national pride. This warning came during a sensitization exercise and roadshow at key markets in the state, organized by the Currency Operations and Branch Management Department of the CBN.

During the event at Galadima Market, Deputy Director, Planning and Development Division, CBN, Ibrahim Yahaya, representing Director of Currency Operations, Dr. Adetona Adedeji, highlighted the significance of the naira as a symbol of sovereignty and national pride. He stressed that the bank and the government frequently spend substantial funds on replacing dirty, soiled, and mutilated notes, a cost that could be significantly reduced if Nigerians treated the currency with more respect.

Yahaya explained, "The naira is our national pride. When it is dirty, soiled or torn, we have to replace it and it costs a lot of money. By handling it well, we extend its lifespan and save money for the country." The roadshow visited several markets, including Galadima Market, Sabon Gari Market, Abattoir Market, Yankaba Market, Tarauni Market, and Yan Lemo Market.

In response to the campaign, Mustapha Shuaibu Sulaiman, Chairman of the Galadima Market Association, expressed gratitude to the CBN for reaching out to market traders and pledged to disseminate the message to his members. Sulaiman urged the apex bank to also caution commercial banks from issuing damaged currency, noting that traders often have to remove the damaged notes themselves.

He further appealed for the CBN to discourage commercial banks from pushing dirty and torn notes into circulation.