The Central Bank of Nigeria (CBN) has described the
naira as one of the strongest currencies globally in terms of security
features, calling on Nigerians to handle it with integrity and avoid acts that
degrade its value and appearance.
The apex bank made this assertion during its flagship
sensitisation programme, the CBN Fair, held in Lagos, which aimed to
strengthen public confidence in Nigeria’s currency, deepen financial inclusion,
and promote alternative payment channels.
Highlighting Naira’s Security Strengths
Paul Onuoha, a senior official from the CBN’s Currency
Operations Department, led an interactive session focused on identifying
counterfeit banknotes and understanding the advanced security features embedded
in the naira.
“The naira is one of the strongest currencies in the
world when it comes to security features,” Onuoha stated, demonstrating
practical methods for spotting fake notes and emphasizing the currency’s
resilience against forgery.
Preserving the Dignity of the Naira
Hakama Sidi-Ali, Acting Director of the CBN’s
Corporate Communications Department, urged Nigerians to respect and protect the
national currency.
“Do not spray, hawk, mutilate, or counterfeit the
naira. Respect and keep it clean,” she appealed, stressing that the dignity of
the naira is closely tied to national pride and economic stability.
Sidi-Ali reaffirmed that under Governor Olayemi
Cardoso’s leadership, the CBN is committed to maintaining monetary stability,
promoting productivity, and ensuring broad financial access for all citizens.
Promoting Alternative Payment Channels
The event, themed “Driving Alternative Payment
Channels as Tools for Financial Inclusion, Growth and Accelerated Economic
Development”, brought together entrepreneurs, fintech innovators, market
leaders, financial institutions, students, and youth groups.
Sunday Daibo, CBN’s Lagos Branch Controller, described
the fair as more than an exhibition, calling it a platform to advance
economic resilience.
“Let this fair be a launchpad for initiatives that
will carry the benefits of alternative payment channels to every corner of our
nation,” Daibo said.
Other speakers, including Ayodeji Ojo from the Other
Financial Institutions Supervision Department, discussed the CBN’s role in
safeguarding savings, expanding credit access, and reinforcing trust in
licensed financial operators.
Driving Financial Inclusion Through
Innovation
Discussions at the fair covered open banking, digital
payment innovations, and the strategic role of a strong, trusted currency in
attracting investment and stimulating economic growth.
With Onuoha’s expert-led demonstration anchoring the
event’s key message, the CBN reaffirmed that the naira is not just a medium of
exchange but a symbol of national identity and pride—one worth
protecting in both physical form and value.
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