• About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, March 29, 2023
  • Login
Celebrity Watch Magazine
Subscription Plans
  • Home
  • Politics
  • Street Gists
  • Lifestyle
  • Sports
  • Celebrities Watch
  • Breaking News
  • Entertainment
  • Interview
No Result
View All Result
  • Home
  • Politics
  • Street Gists
  • Lifestyle
  • Sports
  • Celebrities Watch
  • Breaking News
  • Entertainment
  • Interview
No Result
View All Result
Celebrity Watch Magazine
No Result
View All Result
Home Street Gists

How Central Bank Of Nigeria Spent N58.6bn To Print 2.5bn Naira Notes

Elizabeth by Elizabeth
November 5, 2021
in Street Gists
0 0
0
How Central Bank Of Nigeria Spent N58.6bn To Print 2.5bn Naira Notes
Share on FacebookShare on TwitterShare on WhatsApp

According to the bank 2020 Currency Report posted on its website, yesterday, November 4, 2021, the Central Bank of Nigeria (CBN) spent the sum of N58.618billion to print 2.518billion Naira notes, valued at N1.063trillion in 2020.

Herbal Product

It indicated a decrease in the bank’s expenditure on currency printing, which stood at N75.523billion, in 2019 and N64.040billion in 2018

The current management of the CBN under the leadership of Mr. Godwin Emefiele, has been driving the cashless policy with a view to cutting the cost of printing bank notes and cash management, in the country.

The new e-Naira was also initiated in line with the policy.

According to the report, “The total cost incurred on printing of banknotes in 2020 amounted to N58,618.50million, compared with N75,523.50million in 2019, indicating a decrease of ¦ 16,905.00million or 28.84 per cent.”

CBN indicated in the report that the notes were printed in-country by the Nigerian Security Printing and Minting Plc (NSPM Plc).

The report indicated that CBN, “approved an indent of 2,518.68million pieces of banknotes of various denominations in 2020 to satisfy the currency needs of the economy, compared with 3,830.94million in the preceding year.

“The NSPM Plc was awarded the contract for the production of the entire indent. At end-December, 2020, NSPM Plc had delivered 100 per cent of the approved indent.”

It put the total stock of currency (issuable & non-issuable) in the vaults of the bank at end December, 2020 at 2.747billion pieces, compared with 2.641billion pieces in 2019, indicating an increase of 105.73million pieces or 4.00per cent.

“At end-December, 2020, the total issuable notes (newly printed notes and Counted Audited Clean notes) was 592.94million pieces, compared with 726.43million pieces in 2019, representing a decrease of 133.49million pieces or 18.38per cent,” the report showed.

The report also indicated that a total of $1.830billion was procured over the course of 2020.

According to the report, “This value represents a decrease of $2,120.00million or 53.67per cent relative to the $3,950.00million procured in 2019.

 

Tags: CBN GovernorCBN Spent N58.6bn To Print 2.5bn Naira NotesGodwin EmefieleNigerian Currency
Elizabeth

Elizabeth

Elizabeth Ayamolowo is a graduate of Business Management but with exceptional burning passion for writing, with dogged determination to find a good story and deliver it to the public. Fondly called Lizzy, is a great lover of music, food, fashion and everything beautiful. You're most welcome to my small Word

Next Post
Just Like Chidinma, Prime suspect, Uduak Frank, Who Killed Jobseeker In Akwa Ibom Makes U-turn, Pleads Not Guilty

Just Like Chidinma, Prime suspect, Uduak Frank, Who Killed Jobseeker In Akwa Ibom Makes U-turn, Pleads Not Guilty

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
PROPHET ELIJAH OLUWASEGUN ISEDOWO HONORED WITH DOCTORATE DEGREE IN DIVINITY

PROPHET ELIJAH OLUWASEGUN ISEDOWO HONORED WITH DOCTORATE DEGREE IN DIVINITY

July 26, 2021
Tonto Dikeh Ex Boyfriend, Malivelihood Set To Wed, Release Pre-Wedding Photos With Senator Smart Adeyemi’s Daughter

Tonto Dikeh Ex Boyfriend, Malivelihood Set To Wed, Release Pre-Wedding Photos With Senator Smart Adeyemi’s Daughter

December 2, 2020
Tribal War Is Ongoing In Nigeria And Buhari Government Has Already Taken Sides – Islamic Cleric Sheikh Gumi Says

Tribal War Is Ongoing In Nigeria And Buhari Government Has Already Taken Sides – Islamic Cleric Sheikh Gumi Says

June 24, 2021
CCTV Never Showed Baba Ijesha Defiling Princes’s Daughter – Police Source Says

CCTV Never Showed Baba Ijesha Defiling Princes’s Daughter – Police Source Says

April 29, 2021
APC Candidate Abiru Wins Lagos East Senatorial Election.

APC Candidate Abiru Wins Lagos East Senatorial Election.

8
FINALLY: FG Handover National Theatre to Central Bank of Nigeria.

FINALLY: FG Handover National Theatre to Central Bank of Nigeria.

1
I Won’t Be Intimidated By ‘Loads Of Cash’ Aspirants — Dele Momodu Says As He Declears Interest To Run For President In 2023

I Won’t Be Intimidated By ‘Loads Of Cash’ Aspirants — Dele Momodu Says As He Declears Interest To Run For President In 2023

1
FUEL IMPORTANTION:Nnamdi Kanu Slams Buhari

FUEL IMPORTANTION:Nnamdi Kanu Slams Buhari

0
I Work With APC; We Own Nigeria Now, I’m A Federal Government Liability,’ – Portable Brags As Police Storm His Bar To Arrest Him

I Work With APC; We Own Nigeria Now, I’m A Federal Government Liability,’ – Portable Brags As Police Storm His Bar To Arrest Him

March 28, 2023
We Have No Option But To Use MC Oluomo Buses To Distribute Election Materials – INEC

MOluomo Should Be Prosecuted, Pay For Attack On Igbos If… — Lagos Deputy Governor, Hamzat Says

March 28, 2023
Tragedy As Police Inspector Attached To Nigerian Politician Kills Another Inspector In Legislator’s Escort Team In Abia

Kano Government Has Taken Over Murder Case Filed Against APC Majority Leader, Doguwa – Nigerian Police

March 28, 2023
Court Orders Interim Forfeiture of 14 Properties Linked To Kogi State Govt, N400m

Dismiss Gov Yahaya Bello’s Application Challenging Forfeiture Of 14 Properties, N400Million – EFCC Tells Court

March 28, 2023

Recommended

I Work With APC; We Own Nigeria Now, I’m A Federal Government Liability,’ – Portable Brags As Police Storm His Bar To Arrest Him

I Work With APC; We Own Nigeria Now, I’m A Federal Government Liability,’ – Portable Brags As Police Storm His Bar To Arrest Him

March 28, 2023
We Have No Option But To Use MC Oluomo Buses To Distribute Election Materials – INEC

MOluomo Should Be Prosecuted, Pay For Attack On Igbos If… — Lagos Deputy Governor, Hamzat Says

March 28, 2023
Tragedy As Police Inspector Attached To Nigerian Politician Kills Another Inspector In Legislator’s Escort Team In Abia

Kano Government Has Taken Over Murder Case Filed Against APC Majority Leader, Doguwa – Nigerian Police

March 28, 2023
Court Orders Interim Forfeiture of 14 Properties Linked To Kogi State Govt, N400m

Dismiss Gov Yahaya Bello’s Application Challenging Forfeiture Of 14 Properties, N400Million – EFCC Tells Court

March 28, 2023

About Us

Celebrity Watch Magazine is your plug for regular, verified, entertaining and informed magazine online. Subscribe for our online monthly editions.
Subscribe

Categories

  • Breaking News
  • Celebrities Watch
  • Crime
  • Entertainment
  • Health and Fitness
  • Interview
  • Lifestyle
  • Metro News
  • MetroFile
  • Movies & Series
  • Politics
  • Press Release
  • Security and Crime
  • Sports
  • Street Gists

Recent News

I Work With APC; We Own Nigeria Now, I’m A Federal Government Liability,’ – Portable Brags As Police Storm His Bar To Arrest Him

I Work With APC; We Own Nigeria Now, I’m A Federal Government Liability,’ – Portable Brags As Police Storm His Bar To Arrest Him

March 28, 2023
We Have No Option But To Use MC Oluomo Buses To Distribute Election Materials – INEC

MOluomo Should Be Prosecuted, Pay For Attack On Igbos If… — Lagos Deputy Governor, Hamzat Says

March 28, 2023

© 2020 Celebrity Watch Magazine | All Rights Reserved

No Result
View All Result
  • Home
  • Politics
  • Street Gists
  • Lifestyle
  • Sports
  • Celebrities Watch
  • Breaking News
  • Entertainment
  • Interview

© 2020 Celebrity Watch Magazine | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?