CBN stand at the ongoing Enugu International Trade Fair, Photo Credit: Tony Adibe
By Tony Adibe
The Central Bank of Nigeria (CBN) has advised Nigerians to always respect and keep the Naira clean as it remains a critical symbol of national identity.
The Acting Director, Corporate Communications Department (CBN), Mrs Hakama Ali, who gave the advice, also said: “Do not spray, hawk, mutilate or counterfeit the Naira even as the CBN will sustain its efforts towards ensuring the availability of clean currency notes with the right mix.”
NewsBits recalls that quite often, a good number of people in the country are fond of allegedly involved in the spraying, hawking, mutilation, and counterfeiting of the Nigerian currency, regardless of CBN’s repeated advice and warnings.
However, Ali gave the warning on Saturday in Enugu during the CBN Special Day at the ongoing 36th Enugu International Trade Fair themed: “Developing Nigeria Industrial Sector/SMEs for Economic Advancement and Global Recognition”.
According to Ali, the CBN had continued to address pockets of macroeconomic challenges confronting the Nigerian economy, and making sure that the banking system remained robust and resilient.
In the same vein, Ali said the Apex Bank was also closely monitoring the ongoing recapitalisation of the banking sector, to make sure that there is the injection of quality capital as envisaged in the framework.
“The Nigerian payments system has continued to be reckoned with globally. CBN has remained resolute in ensuring an effective and efficient payments system infrastructure. This has accelerated the financial inclusion drive and broadened payment possibilities for Nigerians. These payment platforms have made financial transactions more seamless, cost-effective, and accessible to a wide range of users,” according to the Acting Director.
Ali further remarked that the CBN achieving an impactful industrial development for global recognition “is premised on a tripod.” According to her, “This includes robust financial systems fundamentals, foreign exchange market stability, and strong collaboration between the monetary and fiscal authorities.
“The Bank’s efforts in these directions are already yielding the desired results. This has resulted in significant increase of inflow in foreign direct and portfolio investments and positive trade balance in recent times.
“Specifically, Nigeria recorded $6.83 billion balance of payments surplus at the end of 2024. which signals economic resurgence and a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022 financial years, respectively. This improvement reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance and renewed investor confidence in Nigeria’s economy.”
The President of Enugu Chamber of Commerce, Chief Odeiga Jideonwo, had earlier lauded the apex bank for policy measures to rebuilding stronger business confidence and ensuring stability in the economy, particularly in the Nigerian financial/banking sector.
Jideonwo said: “We are not unmindful of the various intervention schemes of the CBN to support and encourge the growth of business in various sectors of the economy.
“However, we counsel that more sustainable strategies and intervention schemes should be adopted.”
