The Central Bank of Nigeria (CBN) has revealed that a total of 2.3 billion Nigerian coins worth N1.60 billion were in circulation in the first six months of 2018.

In its Economic Report for the first half of 2018 released last week and obtained by Business Post, the apex bank said the coins comprise 1 kobo, 10 kobo, 25 kobo, 50 kobo, N1 and N2 denominations.

An analysis of the report by Business Post indicated that during the period under review, a total of 31.4 million pieces of the 1 kobo coin worth N3 million were in circulation.


Also, 315.6 million pieces of the 10 kobo coin valued at N32 million were in circulation, 348.3 million pieces of the 25 kobo coin worth N87 million were in circulation, while 681.5 million pieces of the 50 kobo coin valued at N340 million were in circulation.

Furthermore, a total of 736.1 million pieces of the N1 coin worth N740 million were in circulation in the reviewed period, while 204.4 million pieces of the N2 coin valued at N410 million were also in circulation in H1 2018.

Also in the report, the central bank said a total of 5.6 billion pieces of banknotes valued at N1.899 trillion were in circulation in the first six months of this year, bringing the total value of Naira in circulation in the period under consideration to N1.9 trillion.