*Warns against Naira mutilation
WorldStage– The Central Bank of Nigeria (CBN) has reaffirmed its commitment to ensuring a steady supply of clean currency notes in appropriate denominations.
Speaking during the CBN Special Day at the 47th Kaduna International Trade Fair, Mrs Sidi Hakama, Deputy Director of Corporate Communications and Investor Relations issued a strong warning against the mutilation and abuse of the Naira, urging Nigerians to respect the national currency and desist from practices such as spraying, counterfeiting, defacing, and hawking banknotes.
Hakama who was represented at the event by Abbas Ahmed, a Deputy Director at the CBN Headquarters, Abuja said, “The Naira is a crucial symbol of our national identity. Please respect it keep it clean. Do not spray, counterfeit, mutilate, or hawk the Naira.”
She assured the stakeholders of the apex bank’s dedication to maintaining economic stability and strengthening structural reforms.
The event, organised by the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA), was themed ‘From Reforms to Results: Economic Transformation through Sustained Local Content Development’.
The theme, Hakama said, aligned with the CBN’s domestic reform agenda focused on sustainable growth, financial inclusion, and resilience against external shocks.
According to her, under the leadership of CBN Governor, Mr Olayemi Cardoso, the bank had introduced wide-ranging reforms aimed at repositioning Nigeria’s economy.
She said, “These include the unification of the foreign exchange rate, ongoing bank recapitalisation to support the vision of a $1 trillion economy by 2030.
“There was also the introduction of the Non Resident Bank Verification Number (BVN) to connect Nigerians in the diaspora, and the B Match system for foreign exchange trading.”
Other key initiatives highlighted included the Nigerian Payments System Vision 2028, a 75 per cent Cash Reserve Ratio on non Treasury Single Account public-sector deposits to enhance liquidity management, and regulatory clarity in emerging areas such as stablecoins and virtual assets.
According to the CBN, these reforms have improved transparency, strengthened monetary policy transmission, and reinforced macroeconomic stability, particularly following the discontinuation of deficit monetisation.
Hakama disclosed that Nigeria now ranks among Africa’s most advanced digital payments markets, with leading fintech applications recording between 10 and 50 million downloads and more than 12 million contactless cards currently in circulation.
Looking ahead to 2026, the CBN’s strategic priorities include strengthening the banking system, delivering durable price stability, modernising payments infrastructure, advancing financial inclusion, fostering responsible fintech innovation, and deepening institutional partnerships.
The CBN reiterated its commitment to transparency and urged members of the public to rely solely on official and verifiable communication channels for information regarding its policies and programmes.
In his welcome address, KADCCIMA President, Mr Faruk Suleiman, commended the CBN for its reform efforts, adding that the business community was already witnessing increased economic stability.
“We believe in the reforms of the Central Bank of Nigeria.
“If not for these reforms, we would not have had the stability we are experiencing today,” Suleiman said, urging the participants to visit the CBN pavilion for direct engagement with officials.
The 47th Kaduna international trade fair continues to serve as a major platform for dialogue between policymakers, investors, and the business community on Nigeria’s economic transformation agenda.
