CBN Destroys Over N6trn Banknotes Under Buhari's Administration   The Central Bank of Nigeria is expected to have destroyed over N6tn worth of mutilated and old banknotes when the regime of President Muhammadu Buhari expires in May 2023. Already, data obtained from the annual reports of the...

CBN Increases Currency In Circulation By N418bn   The Currency in Circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures obtained from the Central Bank of Nigeria. The CBN data showed that currency in circulation had increased by 19.06...

In 2019, CBN Spent N75bn To Print Banknotes     The Central Bank of Nigeria, CBN, said it spent N75 billion to print banknotes in 2019. This represents N11.5 billion or 18 percent increase when compared to N64 billion spent in 2018. The apex bank also deployed $3.95...

In 2019, CBN Disburses N237bn Banknotes To Merchants, Others     The Central Bank of Nigeria (CBN) disbursed lower denomination banknotes worth N237.14 billion to microfinance banks (mfbs), merchants, shopping malls, market associations among others in 2019, to increase the circulation of such notes in the country. The...

CBN Prints N176.9bn Banknotes In 4 Years   The Central Bank of Nigeria has said a sum of N176.9bn was spent to print banknotes between 2015 and 2018. A breakdown of the amount in a report released on Tuesday by the apex bank showed that N64bn was...