Nigeria: CBN To Save 58% Production Cost of New Currencies

19 February 2007

Kano — Governor of the Central Bank of Nigeria (CBN), Professor Chukwuma Charles Soludo Thursday in Kano said the cost of currency production in the country would be slashed to between 42 and 58 per cent when the new currencies go into circulation.

The governor who was in the state to sensitize the staff on the new currencies also said that statistics had shown that with the reintroduction of coins, the CBN would be able to save about 60% of the cost of minting coins.

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