CBN Warns Against Naira Mutilation Ahead of Valentine's Day

The Central Bank of Nigeria (CBN) has issued a warning to Nigerians against the mutilation and abuse of the Naira, particularly as Valentine's Day approaches. Mr.

Sidi Ali Hakama, Deputy Director of Corporate Communications at the CBN, emphasized the Naira as a symbol of Nigeria's sovereignty and urged citizens to handle the currency properly. This caution was delivered during the 47th Kaduna International Trade Fair, where Hakama highlighted the CBN's commitment to supplying clean and fit banknotes nationwide.

The CBN is also focused on various economic reforms, including the unification of the foreign exchange market and enhancing the Nigerian payment system. The bank aims to achieve a target of a $1 trillion economy by 2030.

Additionally, a survey by SBM Intelligence indicated that Nigerians plan to spend between N10,000 and N200,000 on Valentine's Day gifts, reflecting a growing consumer trend. The CBN's initiatives align with its domestic reform agenda aimed at sustaining economic growth and financial inclusion.