Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,965,906 members, 7,197,506 topics. Date: Friday, 02 December 2022 at 08:59 PM

2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn (16253 Views)

15-Year-Old ₦‎500 Note Currently In Circulation (Pictured) / Dangote’s Wealth Surges By $1.3 Billion In Three Weeks, Nears Senegal’s GDP / CBN Spends N58.6 Billion To Print 2.5 Billion Pieces Of Naira Notes (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by dipoolowoo: 11:57am On Nov 06, 2018
By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) has revealed that a total of 2.3 billion Nigerian coins worth N1.60 billion were in circulation in the first six months of 2018.

In its Economic Report for the first half of 2018 released last week and obtained by Business Post, the apex bank said the coins comprise 1 kobo, 10 kobo, 25 kobo, 50 kobo, N1 and N2 denominations.

An analysis of the report by Business Post indicated that during the period under review, a total of 31.4 million pieces of the 1 kobo coin worth N3 million were in circulation.

Also, 315.6 million pieces of the 10 kobo coin valued at N32 million were in circulation, 348.3 million pieces of the 25 kobo coin worth N87 million were in circulation, while 681.5 million pieces of the 50 kobo coin valued at N340 million were in circulation.

Furthermore, a total of 736.1 million pieces of the N1 coin worth N740 million were in circulation in the reviewed period, while 204.4 million pieces of the N2 coin valued at N410 million were also in circulation in H1 2018.

Also in the report, the central bank said a total of 5.6 billion pieces of banknotes valued at N1.899 trillion were in circulation in the first six months of this year, bringing the total value of Naira in circulation in the period under consideration to N1.9 trillion.

This represented an increase of 1.4 percent over the level in the corresponding period of 2017, reflecting increased economic activities and the expansionary fiscal policy of the government.

In value term, banknotes, increased by 1.4 percent, compared with the level in the first half of 2017, while coins remain unchanged.

In terms of composition, the combined volume of N5, N10, N20 and N50 banknotes, as share of total currency in circulation in the first half of 2018, decreased to 27.0 percent, from 30.4 percent in the first half of 2017.

Similarly, the value dropped to 1.8 percent, from 2.0 percent in the corresponding period of 2017.

At end-June 2018, the value of N200, N100, N20 and N10 banknotes in circulation rose by 7.2 percent, 70.8 percent, 6.8 percent and 9.1 percent, respectively.

However, the value of N1,000, N500, N50 and N5 denominations declined by 0.2 percent, 0.8 percent, 24.5 percent and 39.8 percent, respectively, compared with the levels in the first half of 2017.

The report said the N1,000 and N500 banknotes remained dominant with shares of 60.7 percent and 28.1 percent, respectively, in value terms in the first half of 2018.

https://www.businesspost.ng/2018/11/06/2-3-billion-pieces-of-coins-worth-n1-60b-in-circulation-cbn/

1 Like

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by pacifique(m): 11:59am On Nov 06, 2018
In circulation, where angry?

71 Likes 5 Shares

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Nova01(m): 12:13pm On Nov 06, 2018
Are these our leaders mad .. it’s been long I even saw a Nigerian coin am still confused on how they will spend 200bn + on election it won’t be well with this people I swear they keep fooling there generations not me

58 Likes 5 Shares

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by MrsNwaAmaikpe(f): 12:21pm On Nov 06, 2018
shocked shocked

The CBN has joined the association of Nigerian institutions under APC known for propagating unbelievable lies.

Just imagine the lies this one is spewing now

65 Likes 6 Shares

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Qsscruz(m): 12:21pm On Nov 06, 2018
Nigeria would keep being confused with someone like Buhari at the helm..Every time from day one, he inherited one problem or the other..Solve it, you won't .. Go home, you say no..Allow someone who wants to inherit yours and that of the past administration to come on board, no way...Boko haram is killing day by day, hunger is the country's second name..The lagoon has turned to people's choice.. Bubu Bubu Bubu why are you persecuting the nation. This man is the champion of the blame game..The heavy weight blamer award goes to ...

30 Likes 5 Shares

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Nobody: 12:22pm On Nov 06, 2018
Ehnn, lie mohammed must be behind this.

17 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by mknigeriagreat: 12:22pm On Nov 06, 2018
Stupid. Of what value is such a report? And to think of millions of naira that would have been spent to arrive at this with countless unreasonable meetings. Misplaced priorities.

11 Likes 1 Share

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Guapismo: 12:22pm On Nov 06, 2018
Can someone pls help me beg Central Bank or any other appropriate agency that 100 notes are needed, it's very scarce and when u find it its usually tattered.

Even though the people that run this country don't spend 100 naira, they should pity us small na

18 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by davidodiba(m): 12:23pm On Nov 06, 2018
Can you imagine that number and I have not seen even a look-alike of Nigeria's coins.

24 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Nobody: 12:23pm On Nov 06, 2018
in circulation??

4 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by bus1: 12:23pm On Nov 06, 2018
.
Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by nwakibie3(m): 12:23pm On Nov 06, 2018
Mad people everywhere in aso rock

9 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Darkseid(m): 12:23pm On Nov 06, 2018
I don dey bear am since but these lies are seriously getting out of hands. At a time when 5 bucks and 10 bucks are going extinct, these people get mind dey tell us another one.

22 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Aromas: 12:24pm On Nov 06, 2018
Don't put me into more troubles please. Where is the coins?

26 Likes 1 Share

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Opinionated: 12:24pm On Nov 06, 2018
i dont remember seeing any coin after 2014 oo, even if i should see what do i want to use 2naira to buy undecided

With bitcoin you be baba o. grin grin checkout 7 of The Coolest Things You Can Buy with Bitcoin

3 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by w1sEmAn: 12:24pm On Nov 06, 2018
MAY BE THEY ARE TALKING ABOUT BILLION COIN O

8 Likes 2 Shares

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Homeboiy: 12:24pm On Nov 06, 2018
Assuming we still use coin, Ganduje for no ft pack am for babariga
or else he no go fit waka

10 Likes 1 Share

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Ikem11(m): 12:24pm On Nov 06, 2018
Only if nigerians can know the value of using coins... Stupid country

9 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Untainted007: 12:24pm On Nov 06, 2018
Lie of the century or let me assume it's true but what can even 50 naira buy in Nigeria? Not to talk of coins. It's as useless as the P in Psychology.

3 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by enemyofprogress: 12:24pm On Nov 06, 2018
Coins in Nigeria? I have never sin one before

2 Likes 1 Share

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by bus1: 12:25pm On Nov 06, 2018
Fake news.

2 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Denique(f): 12:25pm On Nov 06, 2018
O boy see naira o
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin

1 Like

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by kamez(m): 12:25pm On Nov 06, 2018
I am not understanding pls. in circulation where


even shoprite that will deceive themselves by putting 99naira and 99kobo on almost all their goods, will never give u that ur 1kobo 1naira change

7 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by IdeeEsperanza(m): 12:26pm On Nov 06, 2018
Did I just hear them mention "coins"? I can swear that my 18 year old nephew hasn't seen coins all his life before. grin

5 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by ajeleseujn(m): 12:27pm On Nov 06, 2018
grin grin this government is so good in comedy

5 Likes 1 Share

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by chloride6: 12:28pm On Nov 06, 2018
2 billion of those coin are under beds...

Since Ancestors refused to bequeath them before they died

3 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by ZarahBuhari: 12:28pm On Nov 06, 2018
Aromas:
Don't put me into more troubles please. Where is the coins?
He hasn't seen anything yet.

2 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by tolexy007(m): 12:29pm On Nov 06, 2018
pacifique:
In circulation, where angry?

in The north

1 Like 1 Share

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by scopusng(m): 12:30pm On Nov 06, 2018
Nonsense. Mtcheeew.

2 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by folahann(m): 12:33pm On Nov 06, 2018
Nigerians started rejecting coins when it was in circulation, it later faded out. Poor Nigerians dont know the benefits.

3 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by poiZon: 12:33pm On Nov 06, 2018
pacifique:
In circulation, where angry?
nna if u ask me who i go ask?

2 Likes

Re: 2.3 Billion Pieces Of Coins Worth N1.60b In Circulation—cbn by Trackango: 12:33pm On Nov 06, 2018
They still use Coin in the North

(1) (2) (3) (Reply)

COVID-19: CBN Denies Charging Fees To Process Loan Requests / Fraud At Federal Morgage Bank Of Nigeria / Generator Installed At Eke-Awka Market Anambra State

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 112
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.