CBN reaffirms commitment to clean currency supply

Central Bank of Nigeria (CBN) has reiterated its pledge to ensure the continuous availability of clean banknotes and called on Nigerians to treat the Naira as a vital symbol of national pride and identity.

Speaking at the CBN Fair in Lagos on Tuesday, August 12, 2025, the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, said the apex bank’s clean currency initiative was part of a broader drive to strengthen public trust in the financial system and promote economic stability.

“We urge you to see the Naira as our critical symbol of national identity. Respect and keep it clean. Do not spray, hawk, mutilate, or counterfeit the Naira,” she said.

ALSO READ: Tinubu appoints Obih, Akinfeleye to varsities’s governing councils

The two-day fair, themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,” served as a platform for engagement between the CBN, the public, and stakeholders. Sidi Ali said the theme was carefully chosen to highlight the importance of innovative payment systems in supporting small and medium-sized enterprises (SMEs) and boosting price stability.

Under Governor Olayemi Cardoso, the CBN has implemented several reforms over the past 22 months, including exchange rate unification, clearance of over $7 billion in verified FX backlog, the launch of the Nigeria FX Code, and bank recapitalisation to position the sector for a projected $1 trillion economy. Other initiatives include the introduction of a non-resident Bank Verification Number (BVN) for Nigerians abroad and the Unified Complaints Tracking System (UCTS) with a USSD verification code (*959#) to protect consumers.

In his welcome address, Branch Controller, Central Bank of Nigeria, Lagos, Mr. Sunday Daibo described the fair as more than an exhibition, calling it “a celebration of national development” in an era where technology is transforming financial services. He noted that mobile money, agency banking, USSD services, internet banking, the Central Bank Digital Currency, and open banking have expanded access to underserved communities, empowering farmers, small businesses, and entrepreneurs.

“These channels are more than tools for transactions; they are instruments for empowerment,” he said. “When a farmer in a remote community can receive payments instantly or a small business can sell goods online and get paid securely, that is financial inclusion in action.”

The fair also featured presentations on the CBN’s microfinance initiatives, consumer rights protection, innovations in the payments system, and developments in the foreign exchange market.