Nigeria: CBN - Cash Management Cost May Rise to N192 Billion

6 October 2011

Unless the move by the Central Bank of Nigeria (CBN) to reduce the dominance of cash in the system is embraced, the cost of managing cash in the Nigerian economy may increase to N192 billion by 2012.

Deputy Director, Currency Operations, CBN, Mr. Albert Ikmseedun, made this disclosure at a sensitisation programme on the proposed cashless economy policy for the Muslim community in Lagos.

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