Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has cautioned Nigerians against spraying, hawking, and mutilating the Naira, warning that such acts amount to disrespecting the nation’s symbol of sovereignty.
Cardoso, who was represented by the Acting Director, Corporate Communications Department of the CBN, Mrs. Hakama Sidi Ali, gave the warning on Thursday at the CBN Fair held in Kaduna.
The Fair, themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,” was organised to strengthen public understanding of the Bank’s policies and their role in driving economic stability.
Cardoso said the theme was deliberately chosen to spotlight the link between financial inclusion and the growth of Small and Medium Enterprises (SMEs), which are critical to price stability and overall economic development.
“I urge everyone here to rely only on information disseminated through verifiable official channels of the Central Bank of Nigeria,” he said. “I also encourage you to respect and keep the Naira clean. Do not spray, hawk, mutilate, or counterfeit the Naira. It is our critical national symbol.”
Powered by VidCrunch
The CBN governor explained that the Fair was part of ongoing sensitisation to show how the Bank’s policies impact lives, businesses, and national growth. He stressed that the Bank remains committed to stimulating productivity, ensuring financial inclusiveness, and maintaining monetary and price stability.
- Nigeria’s FX lessons under Cardoso
- Naira rallies on sustained forex growth
- Cardoso: why CBN will sustain monetary tightening policy
According to him, recent reforms by the apex bank have begun yielding results, including an increase in foreign investment inflows, improved trade balances, and significant progress in financial inclusion.
Cardoso listed major policy interventions such as the unification of exchange rates to curb arbitrage, clearance of over $7 billion verified FX backlog, and the ongoing bank recapitalization exercise aimed at strengthening the sector for global competitiveness and supporting Nigeria’s $1 trillion economy vision.
Read Also: Nigeria’s FX lessons under Cardoso
He also highlighted the launch of the Non-Resident BVN for Nigerians abroad, the Nigeria Payments System Vision 2028 to accelerate digital transformation, and the Unified Complaints Tracking System (UCTS) alongside a USSD code (*959#) for verifying licensed financial institutions.
Speaking earlier, CBN Controller, Kaduna Branch, Ahmad Dalhatu, said the Fair is one of the apex bank’s flagship enlightenment programmes designed to deepen financial literacy, promote transparency, and build trust between the Bank and Nigerians.
Dalhatu urged participants to actively engage, stressing that the CBN Fair has become a channel not only to explain policies but also to listen to citizens’ concerns and feedback.
“As we navigate the evolving economic landscape—both globally and locally—the need for increased public awareness of monetary policy, financial inclusion, consumer protection, and digital payments cannot be overemphasized,” he said.
