CBN Warns Against Naira Mutilation and Showcases Reform Gains at Kaduna Trade Fair

The Central Bank of Nigeria (CBN) issued a strong warning against naira mutilation and urged Nigerians to respect the currency during the 47th Kaduna International Trade Fair. Sidi Ali Hakama, the Deputy Director of Corporate Communications at CBN, reaffirmed the bank's commitment to ensuring a steady supply of clean currency notes.

The event, organized by the Kaduna Chamber of Commerce, Industry, Mines, and Agriculture (KADCCIMA), focused on reforms leading to economic transformation and sustainable local content development. The CBN's ongoing reforms aim to strengthen the economy, enhance financial inclusion, and bolster resilience against external shocks.

The bank's initiatives include unifying the foreign exchange rate, bank recapitalization, and promoting a cashless payment system. Nigeria is recognized as a leading digital payment market in Africa, with a significant increase in fintech applications and contactless card usage.

The CBN's strategic priorities include modernizing payment infrastructure, advancing financial inclusion, and fostering responsible fintech innovation.