THUR JULY 30 2026-theGBJournal| The Central Bank of Nigeria (CBN) approved the printing of 5.71 billion banknotes in 2025, up 20.5% from 4.74 billion notes authorised a year earlier, according to its 2025 Annual Report and Statement of Accounts released on Wednesday.
Currency in circulation rose to N5.73 trillion at the end of 2025 from N5.44 trillion a year earlier, reflecting stronger economic activity and sustained demand for physical cash, the report said.
Nigeria Security Printing and Minting Plc, the country’s domestic currency printer, was assigned 2.0 billion notes, or 35% of the production programme, while foreign high-security printers were awarded the remaining 65%.
By Dec. 31, the mint had delivered 1.24 billion banknotes—62% of its allocation—with a face value of N368.83 billion, leaving 760.76 million notes outstanding.
Overseas printers completed deliveries of 2.21 billion notes across the N1,000, N500 and N200 denominations, while production of an additional 1.5 billion notes awarded in November was still underway at year-end.
The increase in currency production signals the CBN’s determination to maintain adequate cash supplies after the severe banknote shortages that followed the 2023 currency redesign, even as electronic payments continue to gain market share.
The report also highlighted measures aimed at safeguarding the integrity of the naira.
The CBN’s Forensic Currency Laboratory expanded investigations into suspected counterfeit and mutilated banknotes, while the Bank intensified nationwide campaigns promoting proper handling of cash.
The regulator also completed an assessment of the durability and security features of lower-denomination polymer notes across Nigeria’s six geopolitical zones and carried out periodic “mystery shopping” exercises to monitor commercial banks’ compliance with currency management rules.
Banks found to have violated the guidelines were sanctioned, underscoring the CBN’s efforts to strengthen cash distribution and preserve public confidence in the naira.
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