At the Naira Ambassadors Club inauguration in Abuja, Central Bank of Nigeria Governor Olayemi Cardoso expressed concern that the growing practice of defacing and mutilating naira notes is raising the cost of currency management and reducing note longevity. He noted that the CBN invests heavily in producing clean, durable and secure banknotes, but their value depends on how people treat them once they circulate. Cardoso argued that protecting the naira is everyone’s responsibility, reflecting respect for public resources and national identity.
The Naira Ambassadors Club is intended to educate students on correct currency handling and to create young advocates who will discourage damaging behaviours such as writing on, stapling, or spraying banknotes at events and promote proper use in their families and communities. Cardoso urged students to use their influence to lead positively, saying leadership is about impact rather than holding office.
Deputy Governor Emem Usoro emphasized that a nation’s currency symbolizes sovereignty and public confidence and lamented continuing habits that harm notes and increase replacement costs. She and Adetona Adedeji, Director of Currency Operations, stressed that lasting change requires education and value-building from an early age. They welcomed the initiative as a step toward building financial literacy and civic responsibility through a network of young ambassadors and thanked participating schools for their support.
