Cardoso Unveils CBN Naira Ambassadors Club To Promote Respect For National Currency

June 24 () — The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has launched the CBN Naira Ambassadors Club, a new initiative to promote proper handling of the Naira and encouraging young Nigerians to become advocates for protecting the nation’s currency.

The club was inaugurated with secondary school students in the Federal Capital Territory (FCT) and forms part of the apex bank’s broader efforts to reduce currency abuse, improve public awareness, and preserve the integrity of the Naira.

Speaking at the event, Cardoso described the Naira as more than just a medium of exchange, noting that it represents Nigeria’s identity, sovereignty, and economic stability.

“The Naira is much more than paper and polymer. It facilitates trade, supports economic activity, enables savings and investment, and serves as a visible expression of our national identity”, he stated.

According to the CBN Governor, every banknote carries important national symbols and security features designed to sustain public confidence in the monetary system. He stressed that all Nigerians have a responsibility to handle the currency properly.

Cardoso noted that the CBN spends significant resources producing clean, durable and secure banknotes, warning that practices such as defacing, mutilating and mishandling notes increase replacement costs and disrupt efficient currency circulation.

Also speaking, the CBN’s Deputy Governor for Operations, Emem Usoro, described the initiative as part of the bank’s commitment to protecting one of Nigeria’s most important national assets.

She said abuse of the currency through acts such as spraying, writing on notes, stapling, and squeezing banknotes into pockets shortens their lifespan and undermines respect for the national currency. Usoro explained that the Naira Ambassadors Club seeks to instil positive values among young Nigerians and encourage them to promote proper currency handling within their schools, homes, and communities.

The Director of Currency Operations and Branch Management, Adetona Adedeji, said safeguarding the Naira is a shared civic responsibility and disclosed that the initiative would be expanded nationwide to discourage currency abuse and strengthen public awareness.