The Central bank of Nigeria (CBN) has revealed that in the last six years it spent N3.88 billion to throw away N4.13 billion worth of dirty currencies, IgbereTV reports.
CBN disclosed this in its released Annual Report 2020 as compiled by the CBN’s Currency Operations Department.
According to the report, the disposed currency is part of its statutory activities to ensure only clean Naira notes are in circulation.
“The Bank sustained banknotes disposal operations in 2020 to ensure the circulation of clean banknotes.
“In furtherance of this objective, it deployed eleven (11) Banknote Destruction Systems (BDS) and three (3) Currency Disintegrating Systems (CDS) for currency disposal activities in the period under review,” CBN said.
