Apex bank takes currency-awareness campaign to Kano markets, urging traders to help extend the lifespan of banknotes…..
The Central Bank of Nigeria has appealed to Nigerians, particularly traders and other frequent cash handlers, to treat naira banknotes with greater care as part of efforts to reduce the cost of replacing damaged and worn-out currency.
The appeal was made on Monday by the Director, Currency Operations and Branch Management, Adedeji Adetona, during a public awareness campaign at Galadima Market in Kano.
Represented by the Deputy Director, Currency Operations Department, Ibrahim Yahya, Adetona said the campaign was designed to take the message directly to people who handle large volumes of cash in their daily transactions.
He described the naira as an important national symbol and urged Nigerians to preserve the notes in circulation.
“The key message is about proper handling of the Naira. The Naira is the symbol of our sovereignty. It is our national pride, and we need to handle the Naira very carefully and effectively,” he said.
According to Adetona, the CBN and the Federal Government commit significant resources to replacing banknotes that become dirty, soiled, torn or mutilated.
He said better handling of the currency would keep notes in circulation for longer and reduce the frequency and cost of replacement.
“We believe that by handling the Naira carefully, we are extending the lifespan of that Naira and, by extension, saving a lot of money in terms of replacement of the Naira,” he said.
The CBN said markets were deliberately selected for the sensitisation exercise because of the volume of cash transactions that take place there every day.
Adetona said the campaign, which began at Galadima Market, would be extended to other markets across Kano State.
“Kano is a centre of commerce that records substantial cash transactions, making traders important stakeholders in efforts to promote proper handling of the currency,” he said.
He noted that traders typically collect large amounts of cash during daily business activities before depositing their proceeds with banks.
That makes them an important link in efforts to keep banknotes clean and fit for circulation, particularly given the frequency with which cash changes hands in markets.
The CBN official said the bank would continue working with relevant stakeholders and expand its public education efforts on responsible currency handling.
The Chairman of the Galadima Market Traders Association, Shu’aibu Suleiman, pledged the market leadership’s support for the initiative.
He said traders, especially small-scale operators, stood to benefit from greater awareness of the need to handle banknotes properly.
Suleiman welcomed the campaign and called for sustained public education, particularly among traders who deal extensively in cash.
The market association said the initiative would also benefit the large number of small businesses operating within the market, including fish sellers.
Following the exercise at Galadima Market, the CBN team visited several other commercial centres in Kano as part of the sensitisation drive.
The markets visited included Sabon Gari Market, Abattoir, Yankaba Market, Tarauni Market, ‘Yan Lemo and Dawanau International Grains Market.
The campaign is aimed at encouraging more Nigerians to adopt better practices in handling naira notes, with the CBN linking proper currency care to longer banknote circulation and lower replacement costs.
