CBN approves printing of N5.70bn notes in 2025 to ease cash requirements 

By Onu Okorie

 The Central Bank of Nigeria CBN latest Annual Report has disclosed that CBN approved the printing of 5.70 billion notes across various denominations in 2025, to meet the country’s growing cash requirements.

When compared to 4.73 billion notes approved in the previous year, it shows an increase of 20.5 per cent.

Nigeria’s currency in circulation rose to ₦5.73 trillion in 2025 after the CBN also injected 3.43 billion newly printed naira notes into the economy to satisfy increasing demand for cash.

The report showed that currency in circulation increased from ₦5.44 trillion in 2024, representing a year-on-year rise of ₦290 billion, reflecting sustained demand for cash across the economy despite ongoing efforts to promote electronic payment channels.

According to the report, the newly printed notes were produced by the Nigerian Security Printing and Minting Company (NSPM) Plc alongside foreign security printing firms.

A breakdown of the production indicated that the NSPM supplied 1.23 billion notes, while foreign printers produced 2.20 billion notes, accounting for the larger share of the year’s currency production.

The report further revealed that the apex bank allocated responsibility for 2.0 billion notes, representing 35 per cent of the approved printing volume, to the NSPM, while foreign security printing firms handled the remaining 65 per cent.

However, despite the expanded printing programme, the CBN disclosed that a significant portion of the approved currency orders remained outstanding at the end of the year.

It stated that a supplementary order for 1.50 billion notes, awarded to foreign printers in November 2025, was still being processed as of December 31, 2025.

Similarly, the report showed that the NSPM had yet to deliver 760.76 million notes, representing approximately 38 per cent of its approved allocation.

The CBN attributed the increase in currency in circulation to heightened economic activity and stronger demand for cash transactions nationwide.

According to the report, the sustained growth in cash demand necessitated a corresponding increase in currency production to ensure adequate cash supply and support the smooth functioning of Nigeria’s payment system.