CBN Launches Naira Ambassadors Club to Promote Currency Respect

On [date not specified], Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), inaugurated the Naira Ambassadors Club in Abuja.

He warned that persistent abuse and improper handling of the Naira could lead to increased financial costs for the country. Cardoso emphasized that the CBN's responsibility extends beyond operational concerns, highlighting the need for public engagement in preserving the currency.

The Naira Ambassadors Club comprises 175 students from seven schools, aiming to instill a culture of respect for the national currency among young Nigerians. Cardoso urged these students to become advocates for proper currency handling and to educate their peers about the importance of maintaining the integrity of banknotes.

Emem Usoro, CBN Deputy Governor, also addressed the issue, noting that the lifespan of currency is shortened by improper handling, which increases replacement costs. The initiative aligns with the CBN's broader efforts to strengthen public confidence in the Naira and promote responsible citizenship.