Currency Issue System(Naira)
Naira notes and coins are printed/minted by the Nigerian Security Printing and Minting Plc (NSPM) Plc and other overseas printing/minting companies and issued by the Central Bank of Nigeria (CBN). At the currency printing works of the NSPM Plc, quality is meticulously controlled throughout every process of currency production. This guarantees that every note issued meets the required standard. The CBN maintains an office called Mint Inspectorate in the premises of the NSPM Plc to maintain security and quality of Naira notes and coins.
Currency is issued to deposit money banks through the branches of the CBN, and old notes retrieved through the same channel. Currency deposited in the CBN by the banks are processed and sorted to fit and unfit notes in line with the clean note policy. The clean notes are re-issued while the dirty notes are destroyed.
Currency In Circulation.
N 1368236 - in 8/31/2012 N 1362604 - in 7/31/2012 N 1838980 - in 6/30/2012 N 1398955 - in 5/31/2012 N 1422438 - in 4/30/2012 N 1432834 - in 3/30/2012 N 1438073 - in 2/29/2012 N 1475525 - in 1/31/2012 N 1565499 - in 12/30/2011 N 1390700 - in 11/30/2011 N 1359581 - in 10/31/2011 N 1342971 - in 9/30/2011
Note.: The above figures the last 12 captured months figures and are in millions of Naira.
Read more about this topic: Central Bank Of Nigeria
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