Central Bank of Nigeria (CBN) has said that it spent N96.46 billion to print, distribute naira notes in 2022
This is contained in the apex bank’s recently released audited financial statement for the year ended December 31, 2022.
In the report, the CBN said: “Currency issue expenses relates to expenses incurred in relation to the printing, processing, distribution, and disposal of currency notes.
This is recognised at cost when incurred.”
The CBN spent 40.42 percent more on currency rollout than it did on N53.29 billion the year before, according to the latest publication of the apex’s bank financial accounts.
This is true notwithstanding the naira shortage that gripped the nation in the last months of 2022.
