The Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has warned Nigerians, especially market women, against spraying, hawking and mutilating of the naira, the nation’s national currency.
Governor Cardoso, who was represented by the Acting Director, Corporate Communications Department, CBN, Mrs Hakama Sidi Ali, spoke at the Central Bank Fair, held in Kaduna on Thursday, September 18.
He said the Fair was designed as a platform to interact with members of the public on the policies of the CBN for sustainable economic growth and development of the country.
The Fair was themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development”.
The CBN boss said the theme was carefully chosen to address the links that catalyse Small and Medium Enterprises (SMEs) and other critical activities for the much-needed price stability.
“I urge everyone here to rely only on information disseminated through the verifiable official channels of the Central Bank of Nigeria. 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.
“The core objective of this engagement, therefore, is to sensitise members of the public on how the Bank’s policies enhance their lives and livelihood and contribute to the growth and development of the Nigerian economy.
“Our dedicated team is on hand to take us through presentations on different operations of the Bank, ranging from the recent innovations in the Nigerian payments system; microfinance sub-sector activities; developments in the foreign exchange market, protection of financial consumers and all you need to know about the naira.
“The Management of the Bank is committed to stimulating productivity and financial inclusiveness, as well as delivering on its core mandate of monetary and price stability.
“These efforts have already started yielding positive results, which include increases of inflows of foreign investments, positive trade balances and remarkable progress in financial inclusion.
“The CBN has spearheaded several key policies to strengthen the financial system which includes exchange rate unification; to minimise arbitrage opportunities and reduce volatility in the foreign exchange market and cleared over $7bn verified backlog of FX forwards.
“It also include Bank Recapitalisation; to strengthen the resilience and global competitiveness of the banking sector, positioning it to support the $1 trillion economy, launched the non-resident BVN to connect Nigerians abroad with home banking, unveiled the Nigeria Payments System Vision 2028 (PSV 2028); to accelerate digital transformation, deepen financial inclusion, and position Nigeria more strongly in global payments.
“To further protect banks’ customers and strengthen consumer confidence, the CBN launched the Unified Complaints Tracking System (UCTS) to streamline the management of consumer complaints against financial institutions. Alongside this, USSD code (*959#) was also introduced for verifying licensed institutions, and enhancing transparency in the Nigerian financial sector,” Governor Cardoso said.
Speaking earlier, Kaduna branch Controller of CBN, Ahmad Dalhatu, reaffirmed that the CBN Fair is one of the Bank’s major public enlightenment initiatives aimed at sensitising members of the public on the Bank’s policies, programmes, and interventions.
“It serves as a platform to deepen financial literacy, promote transparency, and strengthen trust between the Bank and the Nigerian people.
“Over the years, the Fair has evolved into a veritable channel for fostering two-way communication between the Central Bank and the Nigerian public. It enables us not only to explain our policies but also to listen to your concerns, feedback, and expectations. This year’s event continues in that tradition, and I encourage everyone here to actively participate in the discussions.
“As we navigate the evolving economic landscape—both globally and locally—the need for increased public awareness of monetary policy, financial inclusion, consumer protection, digital payments, and intervention programmes cannot be overemphasised. The CBN remains committed to ensuring a sound financial system and an inclusive economy where every Nigerian can thrive,” Dalhatu said.
