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The CBN has warned that defacing and mutilating the naira increases the cost of replacing damaged banknotes and disrupts currency circulation CBN Governor Olayemi Cardoso launched the Naira Ambassadors Club to educate students on proper currency handling and promote respect for the nairaHe urged Nigerians, especially young people, to help protect the national currency by avoiding practices such as writing on, stapling and spraying banknotes
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
The Central Bank of Nigeria (CBN) has expressed concern over the growing abuse of the naira, warning that the widespread defacing and mishandling of banknotes is driving up the cost of currency management while reducing the lifespan of Nigeria’s legal tender.
CBN Governor, Olayemi Cardoso, made the remarks in Abuja during the launch of the Naira Ambassadors Club, an initiative designed to educate students on the proper handling of the national
