The Central Bank of Nigeria (CBN) has expressed concern that the continued abuse of naira notes is significantly increasing the cost of printing and replacing the national currency.

This concern was raised during the launch of a nationwide awareness campaign on proper handling of the naira, which took place in Abuja on Wednesday.

At the event, CBN Deputy Governor in charge of Operations, Dr Bala Bello, was represented by Dr Adedeji Adetona, Director of the Currency Operations and Branch Management Department. Delivering Bello’s address, Adetona noted that the naira symbolises national identity and unity. He condemned practices such as folding, tearing, spraying, writing on, and mutilating banknotes, stressing that these acts are not only disrespectful but also costly.

Bello warned that failure to address the poor handling of currency would continue to result in financial losses and reduced efficiency in daily transactions. He added that the credibility of the naira as a national symbol would be further undermined if such behaviours persist.

The sensitisation campaign, titled “Naira Our Pride: Handle with Care”, seeks to foster behavioural change and promote public respect for the currency. Bello emphasised that collective effort is needed for the campaign to succeed, urging collaboration from financial institutions, market associations, transport unions, schools, civil society groups, religious bodies, and the media.

He pointed out that banks must ensure only clean and fit notes are in circulation, while traders and transporters should discourage the rejection or mishandling of naira notes. He also called on citizens to act as custodians of the currency, stating that lasting change requires nationwide cooperation.

As the festive season approaches, Bello advised against hoarding cash, describing it as a practice that restricts access to currency and strains the financial system. He encouraged the use of alternative payment platforms to reduce dependence on physical cash.

He further noted that careful handling of the naira would help prolong the lifespan of the notes, cut maintenance costs, and reinforce the currency’s role as a unifying national emblem.

The CBN said the awareness campaign would be extended to all states and communities in the country to ensure widespread impact.

Speaking earlier, Dr Adedeji Adetona, also represented by Deputy Director Mr Kazeem Olatinwo, stated that the initiative is aimed not only at ensuring clean banknotes but also at boosting public trust in the financial system and promoting national pride.

He assured that the CBN has made adequate arrangements to meet cash demands during the upcoming festive period, but reiterated the need for proper handling to maintain currency quality.

Also addressing attendees, Acting Director of Corporate Communications at the CBN, Hakama Sidi-Ali, reminded citizens that the issuance and maintenance of clean naira notes are among the bank’s statutory responsibilities under Sections 17 to 19 of the CBN Act, 2007.

She called on the public to support the central bank’s efforts, noting that safeguarding the integrity of the naira requires active participation from all Nigerians. Sidi-Ali also highlighted the CBN’s commitment to strengthening the payment system while protecting consumer rights and urged the public to adopt digital payment alternatives to ease pressure on cash circulation.

Data previously published by The PUNCH in May 2025 revealed that the CBN spent ₦315.18 billion on currency-related expenses in 2024, a 306% increase from the ₦77.67 billion spent in 2023. These costs include printing, processing, distribution, and disposal of currency.

The sharp rise in expenditure is believed to be linked to the large-scale printing of new notes, the logistics of nationwide distribution, and the destruction of damaged currency.

Two Nigerian nationals, identified as Chima Ibe and Chimezie Lazarus, are currently facing legal proceedings in India after being arrested in separate anti-narcotics operations, Indian authorities have confirmed.

Chima Ibe, 40, was apprehended by police in Nalasopara East, Maharashtra, during a raid conducted in the early hours of Monday. He was allegedly found in possession of over one kilogram of methylenedioxy-methamphetamine (commonly known as meth), with an estimated street value of over ₹2.08 crore (approximately ₦343 million).

The operation was led by officers API Sunil Pawar and PSI Dilip Ghuge, who reportedly acted on a tip-off. The drugs were discovered inside Ibe’s apartment, concealed in transparent plastic bags, alongside ₹34,500 (about ₦569,000) in cash. Authorities confirmed the substance was meth, which sells for around ₹20,000 (₦330,000) per gram on the black market. Ibe has been charged under India’s Narcotic Drugs and Psychotropic Substances Act, 1985, and remains in custody.

In a separate case in Delhi, the Crime Branch arrested three individuals, including another Nigerian citizen, 35-year-old Chimezie Lazarus, in connection with a cocaine trafficking ring.

According to a report by NDTV, police recovered a total of 194 grams of cocaine worth an estimated ₹2.25 crore (about ₦371 million) from the suspects. Authorities said the suspects, including local nationals Kadir and Wadhwa, were intercepted while allegedly attempting to deliver cocaine in the Rohini area. The drugs were reportedly found in their possession during a search—54 grams with Kadir and 31 grams with Wadhwa.

Subsequent interrogation led to the arrest of Lazarus, also known as Zudo, in Mehrauli on September 10, where police reportedly recovered an additional 109 grams of cocaine.

Investigators disclosed that Zudo arrived in India in January 2023 for medical reasons but later became involved in drug trafficking due to financial hardship. He is suspected of running a distribution network spanning several cities including Delhi, Gurugram, Meerut, Chandigarh, and Haldwani. Local couriers, including the arrested Indian nationals, were allegedly paid ₹1,000 per delivery.

Authorities say the suspects do not have prior criminal records. Efforts are ongoing to uncover the broader drug network, including financial channels and any potential international links.

President Bola Tinubu has reaffirmed Nigeria’s commitment to hosting the 2030 Commonwealth Games, describing the bid as a “dream that must be realised.”

In a statement posted on his official X (formerly Twitter) account on Wednesday, Tinubu emphasised that no African country has ever hosted the Commonwealth Games. He stated that bringing the event to Nigeria would convey a strong message that Africa holds a central place in the future of the Commonwealth.

Nigeria’s final presentation to the Commonwealth Games evaluation committee is scheduled to take place today. The Nigerian delegation is led by Shehu Dikko, President of the Nigeria Sports Commission (NSC), and Bukola Olopade, Director-General of the commission.

The president further expressed optimism about the bid, stating, “It’s time for Africa.” He called on the international community to support Nigeria’s effort to “complete the circle of Commonwealth unity.”

The Commonwealth Games is a quadrennial multi-sport event primarily involving nations and territories that are part of the former British Empire. Nigeria officially announced its interest in hosting the 2030 edition earlier this year, with plans centred around the capital, Abuja.

Nigeria and India were the only countries to submit formal bids before the deadline on August 31. The final decision on the host city is expected in November.

This is Nigeria’s second attempt to secure hosting rights for the Games, after losing the bid for the 2014 edition to Glasgow, Scotland. The upcoming 2026 Commonwealth Games will also be held in Glasgow, following Victoria, Australia’s withdrawal as host in 2023.