CBN uses N58.6 billion to print N2.52 billion

The Central Bank of Nigeria spent the sum of 58.6 billion naira to print 2.52 billion naira notes valued at 1.1 trillion in 2020.

Disclosing these yesterday in its Annual Currency Operations report for 2020, the apex bank also said it utilized 1.83 billion dollars within the same year to fund Bureaux De Changes (BDCs) and Ministries, Agencies and Departments (MDAs) operations.

The currency printing cost has indicated a significant decrease Year-on-Year as it spent 75.5 billion naira and 64.04 billion naira in 2019 and 2018 respectively for the same purpose.