{"id":451824,"date":"2011-07-01T14:35:14","date_gmt":"2011-07-01T14:35:14","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/"},"modified":"2011-07-01T14:35:14","modified_gmt":"2011-07-01T14:35:14","slug":"cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/","title":{"rendered":"CBN Spends N150 Billionn Annually to Maintain Naira Notes &#8211; Moghalu"},"content":{"rendered":"<div readability=\"25.6491357117\">\n<hr class=\"thin clear\" \/>\n<hr class=\"thin clear\" \/>\n<p><a href=\"http:\/\/www.vanguardngr.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/vanguard180.jpg\" alt=\"Vanguard (Lagos)\" title=\"Visit Vanguard (Lagos)\" \/><\/a><\/p>\n<p>1 July 2011<\/p>\n<hr class=\"thin clear\" \/>\n<p>Lagos \u2014 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.<\/p>\n<p>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.<\/p>\n<p>He said the cashless policy, being promoted by the CBN, would offer opportunities to trace movement of funds.<\/p>\n<p>Moghalu said investors&#8217; fear about constant systemic crisis in the banking sector was responsible for inability of the troubled banks to resolve their crisis immediately.<\/p>\n<p>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.<\/p>\n<p>The CBN deputy governor said that the mergers were still on track, adding the apex bank had made various options available to them.<\/p>\n<p><\/p>\n<fieldset>\n<legend align=\"center\"><strong>More News on allAfrica.com<\/strong><\/legend>\n<\/fieldset>\n<p>AllAfrica &#8211; All the Time<\/p>\n<hr \/>\n<\/div>\n<\/p>\n<p>Read More:<br \/>\n<a target=\"_blank\" href=\"http:\/\/allafrica.com\/stories\/201107010975.html\" title=\"CBN Spends N150 Billionn Annually to Maintain Naira Notes - Moghalu\" rel=\"noopener noreferrer\">CBN Spends N150 Billionn Annually to Maintain Naira Notes &#8211; Moghalu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 1 July 2011 Lagos \u2014 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. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451824","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBN Spends N150 Billionn Annually to Maintain Naira Notes - Moghalu - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CBN Spends N150 Billionn Annually to Maintain Naira Notes - Moghalu - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"1 July 2011 Lagos \u2014 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.\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/vanguard180.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"CBN Spends N150 Billionn Annually to Maintain Naira Notes &#8211; Moghalu\",\"datePublished\":\"2011-07-01T14:35:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/\"},\"wordCount\":187,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/vanguard180.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/\",\"name\":\"CBN Spends N150 Billionn Annually to Maintain Naira Notes - Moghalu - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/vanguard180.jpg\",\"datePublished\":\"2011-07-01T14:35:14+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/#primaryimage\",\"url\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/vanguard180.jpg\",\"contentUrl\":\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/vanguard180.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN Spends N150 Billionn Annually to Maintain Naira Notes - Moghalu - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/07\/01\/cbn-spends-n150-billionn-annually-to-maintain-naira-notes-moghalu\/","twitter_card":"summary_large_image","twitter_title":"CBN Spends N150 Billionn Annually to Maintain Naira Notes - Moghalu - Ghanamma.com","twitter_description":"1 July 2011 Lagos \u2014 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. 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