Business News of Saturday, 4 October 2025

Source: www.legit.ng

CBN issues new warning on use of naira, commits to availability of new notes

The Central Bank of Nigeria (CBN) has restated its commitment to making sure Nigerians have access to clean and properly mixed currency notes.

The bank also urged Nigerians to help protect and promote the use of clean Naira notes.

CBN calls on Nigerians to respect the naira

Mrs. Hakama Ali, Acting Director of the Corporate Communications Department, made this known during the CBN’s Special Day at the 20th Abuja International Trade Fair, which started on September 25 and will end on October 6.

The theme of the event is “Sustainable: Consumption, Incentives and Taxation.”

According to the News Agency of Nigeria, Ali reminded citizens that the naira is an important national symbol and should be treated with respect.

She advised people not to spray, sell, damage, or fake naira notes and encouraged everyone to support the CBN’s clean notes campaign.

According to her, keeping the currency clean is a collective responsibility.

Ali stated:

“Respect it and keep it clean. Do not spray, hawk, mutilate, or counterfeit the Naira. We also encourage you to be ambassadors of the Bank’s clean Naira notes. CBN cannot do it alone. Our Naira, Our Pride."

CBN focused on promoting economic stability She explained that the CBN is focused on solving economic challenges to boost productivity and protect the economy from external shocks.

She highlighted three key areas for achieving economic stability: a strong financial system, a stable foreign exchange market, and close cooperation between monetary and fiscal authorities.

Ali revealed that Nigeria’s external reserves rose to $43.05 billion on September 11, 2025, from $40.51 billion in July 2025.

She added that most financial indicators remain healthy and that 14 banks have already met their recapitalisation targets, while others are being monitored to complete the process.

The CBN is also driving innovation in the payment sector through its “Payments Systems Vision 2028” plan.

This initiative aims to expand financial services in rural areas, improve transaction security, and reduce downtime for faster and safer payments.

CBN supporting businesses with credit facilities

The Director-General of the Abuja Chamber of Commerce and Industry (ACCI), Mr. Agaidu Jideani, described the CBN as not just a regulator but a key supporter of business growth.

He noted that through credit facilities, foreign exchange management, and financial inclusion programs, the CBN has created opportunities for businesses, especially MSMEs, to thrive.

Jideani also praised the CBN’s efforts in supporting youth empowerment, capacity building, and targeted investments in key sectors like agriculture, housing, healthcare, and education.

He said these actions are making it easier to do business and encouraging private investment, which helps build a stronger and more inclusive economy.