~ Says it’s our essential national symbol
By Ifeizu Joe
The Central Bank of Nigeria (CBN) has called for caution in handling Naira notes, describing it as Nigeria’s essential national symbol.
The apex bank stated this on Thursday in Awka, during a fair organized in Awka, under the theme: “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development.”
The warning is coming ahead of the yuletide when several social activities are held, leading to wrongful use of the Naira notes through spraying, mutilating and others.
Acting Director of Corporate Communications Department Central Bank of Nigeria, Mrs. Hakama Sidi Ali who stated this during the fair called for caution in handling the notes.
He said: “We strongly advise you to depend solely on information disseminated through the verified official channels of the Central Bank of Nigeria. I also encourage you to uphold and maintain the integrity of the Naira.
“Refrain from spraying, hawking, mutilating, or counterfeiting the Naira. It is our essential national symbol.”
The Acting Director who was represented by Uche Tobias Nnamdi; an official of the bank also stated some of the reforms the Central Bank has engaged in, which has cut inflation and also stabilized the Naira against the Dollar.
He said: “Over the past two years, the Governor has led significant reforms to establish a robust foundation for Nigeria’s advancement into its next phase of economic development, fostering inclusive growth and employment opportunities to reduce poverty.
“Some of these reforms encompass the unification of the exchange rate, bank recapitalisation, the introduction of the non-resident BVN to connect Nigerians abroad with domestic banking services, the BMatch System for foreign exchange trading, the unveiling of the Nigeria Payments System Vision 2028 (PSV 2028).
“There is also the implementation of a 75 percent Cash Reserve Ratio (CRR) on non-Treasury Single Account (TSA) public sector deposits to improve liquidity management and mitigate potential inflationary pressures, among other measures.”
In a welcome address by the Branch Controller of CBN in Awka, Mr. Akobundu Onwuchekwa, who was represented by Dr. Onyemakonor Ogbe, Head if Banking Services Office Representative said the CBN fair would help sensitive the people of some of the policies and efforts of the bank.
He said: “This occasion is very timely and presents a veritable opportunity for feedback and also greatly assist
Central Bank of Nigeria to sensitize the public on various initiatives of the
Bank.”
The fair featured lectures from officials of the bank on several channels available to the public, and how to resolve issues with deposit banks. The event was attended by heads of commercial banks, MFBs, students, Corps members, representatives of security organizations and other members of the public.
