CBN Currency Management Costs Jump 94% to N464 Billion in 2025
By Aboki Forex —
The Central Bank of Nigeria spent N464 billion on printing, distributing, processing and disposing of naira notes in 2025, according to its latest financial statements. That is a sharp jump from the N238.6 billion recorded in 2024, an increase of more than 94 percent in just one year.
The expenditure was captured under the bank's currency issuance operations. It covers the printing of new banknotes, their distribution across the country, processing of currency in circulation and the disposal of unfit notes withdrawn from use.
Personnel Costs Also Rise
Beyond currency management, the report showed that the CBN and its subsidiaries recorded N416 billion in personnel-related expenses in 2025. The figures come from financial statements released by the apex bank.
The sharp rise in currency handling costs means the CBN is spending significantly more to keep physical cash moving through the economy. The increase reflects higher expenses across the entire currency lifecycle, from producing new notes to destroying old ones.
Pressure on Operational Spending
The jump in currency issuance costs adds to the CBN's overall operational expenses. With personnel costs also running into hundreds of billions, the bank's total overheads are under fresh scrutiny.
For businesses and consumers, the rising cost of cash management is a reminder that physical money comes at a price. As the CBN continues to manage the naira supply, the cost of doing so is climbing at a steep pace.