Cbn Spends N150bn Annually To Maintain Naira Notes – Moghalu - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Cbn Spends N150bn Annually To Maintain Naira Notes – Moghalu (864 Views)
Rising Electricity Theft Cases Threaten N150bn Meter Market / New Naira Notes Ready September Ending – CBN / $10b Needed Annually To Achieve 40,000mw By 2020 - Nnaji (2) (3) (4)
| Cbn Spends N150bn Annually To Maintain Naira Notes – Moghalu by opalu: 4:47pm On Jul 01, 2011 |
Lagos— THE Central Bank of Nigeria, CBN, Deputy Governor (Financial System Stability), Dr Kingsley Moghalu, says the apex bank spends about N150 billion annually to maintain the naira. Moghalu, who disclosed this at a public forum in Lagos, said the amount was used to produce, store, transport, protect and destroy the naira notes every year. He said the cashless policy, being promoted by the CBN, would offer opportunities to trace movement of funds. Moghalu said investors’ fear about constant systemic crisis in the banking sector was responsible for inability of the troubled banks to resolve their crisis immediately. He said the CBN should be allowed to sort out the problems associated with mergers and acquisitions in some these banks, adding that CBN was not interested in liquidating any bank. The CBN deputy governor said that the mergers were still on track, adding the apex bank had made various options available to them. |
| Re: Cbn Spends N150bn Annually To Maintain Naira Notes – Moghalu by opalu: 4:47pm On Jul 01, 2011 |
| Re: Cbn Spends N150bn Annually To Maintain Naira Notes – Moghalu by opalu: 4:48pm On Jul 01, 2011 |
[size=15pt]that is N600Billion in 4 years!![/size] |
| Re: Cbn Spends N150bn Annually To Maintain Naira Notes – Moghalu by orble: 4:59pm On Jul 01, 2011 |
BUT WHY? WHEN THERE ARE ALTERNATIVE TO ALL THESE WASTE OF RESOURCES. . |
| Re: Cbn Spends N150bn Annually To Maintain Naira Notes – Moghalu by enyojo(f): 5:03pm On Jul 01, 2011 |
opalu: Utter wastes! |
(1) (Reply)
Sales Of Calidon / Google Will Move Into Sms Advertising Soon / 2-5 Mill. Naira Can Give You Steady Flow Of Interest Locally With No Risk!!!
(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 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 12 |