The Central Bank of Nigeria has issued a strong advisory to citizens regarding the proper handling of the naira as the Christmas season approaches. The warning comes amid concerns about currency misuse during festive celebrations.
CBN's Strong Message on National Currency
During a financial fair held in Awka on Thursday, November 20, 2025, the apex bank emphasized that the Nigerian currency represents a crucial national symbol that deserves respect and careful treatment. The event was themed "Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development."
Acting Director of Corporate Communications at the CBN, Hakama Sidi Ali, represented by Uche Tobias Nnamdi, delivered the bank's position clearly. She stated that Nigerians must refrain from practices that damage the currency's integrity.
"Refrain from spraying, hawking, mutilating, or counterfeiting the Naira. It is our essential national symbol," the CBN official declared.
Economic Reforms and Naira Stability
The CBN representative also highlighted several significant economic reforms implemented under the leadership of CBN Governor Yemi Cardoso. These measures have contributed to reducing inflation and stabilizing the naira against major foreign currencies like the US dollar.
Key reforms mentioned during the presentation include:
- Unification of the exchange rate
- Bank recapitalization initiatives
- Introduction of the non-resident BVN
- BMatch System for foreign exchange trading
- Nigeria Payments System Vision 2028
- Implementation of a 75 percent Cash Reserve Ratio on non-TSA public sector deposits
These comprehensive reforms have established a robust foundation for Nigeria's economic advancement, fostering inclusive growth, creating employment opportunities, and reducing poverty across the nation.
Public Engagement and Financial Education
In his welcome address, the CBN Branch Controller in Awka, Mr. Akobundu Onwuchekwa, represented by Dr Onyemakonor Ogbe, emphasized the importance of the fair in educating the public about the bank's initiatives. He noted that such events provide valuable opportunities for receiving public feedback on monetary policies.
"This occasion greatly assists the CBN in sensitising the public on its various policies and efforts," the controller stated.
The event featured comprehensive lectures from CBN officials covering available payment channels and practical tips for resolving issues with deposit money banks. This educational component forms part of the bank's broader strategy to enhance financial literacy and promote the use of alternative payment methods.
Meanwhile, the naira showed signs of strengthening against the US dollar in recent trading sessions. According to Central Bank of Nigeria data, the Nigerian currency closed at N1,452.13 per dollar on Thursday, November 20, 2025, representing an improvement from the previous day's rate of N1,454.18.
Financial market traders anticipate continued short-term volatility in exchange rates, but note that improving foreign reserves provide the CBN with increased capacity to defend the naira's value in the foreign exchange market.
