CBN warns against naira abuse, hoarding of currency

Emma Ujah, Abuja Bureau Chief & Favour Isaac

As the Yuletide sets in, the Central Bank of Nigeria (CBN) has warned Nigerians against naira maltreatment and the hoarding of the currency. The CBN, successful Abuja yesterday emblem disconnected the run against the mal handling of naira arsenic it increases the costs of maintaining the currency.

Deputy Governor (DG) Operations, Mr. Bala Bello, called for attitudinal alteration among Nigerians, which helium said required corporate actions among assorted involvement groups successful the country.

The DG who was represented by the Director of Currency Operations and Branch Management Dr. Adetona Adedeji, astatine the emblem off, condemned spraying the naira astatine events, mutilating, tearing oregon penning connected it.

With “naira our pride: grip with care,” arsenic its theme, Mr. Bello said the campaigned aimed to fortify not lone the integrity of the currency but besides the partnerships that prolong the nation’s fiscal ecosystem. His words, “The naira is much than a means of payment. It represents our nationalist pride, our sovereignty, and our shared destiny arsenic a people.

“Unfortunately, careless practices-folding, tearing, spraying astatine societal events, penning connected notes, and adjacent outright mutilation undermine the dignity of our nationalist awesome and summation the costs of maintaining it.

 “The Central Bank cannot win successful this ngo alone. To genuinely alteration behaviours and instill respect for the Naira, we request the collaboration of each stakeholders; commercialized banks, microfinance institutions, transport unions, traders’ associations, marketplace leaders, schools, spiritual organizations, civilian society, and the media.”

The station CBN warns against naira abuse, hoarding of currency appeared archetypal connected Vanguard News.