Business
Currency In Circulation Drops By 9.2%
The Central Bank of Nigeria (CBN) has said that currency in circulation dropped by 9.2 per cent between January and April this year.
The CBN disclosed in its April edition of monthly economic report posted on its Website.
It said that currency in circulation dropped by 0.7 per cent in April against 0.4 per cent decline recorded in March.
The apex bank also said that the currency in circulation stood at N1.42 trillion as at the end of April.
It also said that currency outside the banking system dropped by 2.7 per cent between January and April.
The CBN said that banks holdings of Federal Government bonds and treasury bills fell to N785.2 billion in April.
CBN said that its credit to the banking sector went up by 6.3 per cent to N291.5 billion by April.
It said that the liquid assets of the banks stood at N5.95 trillion, representing 47.3 per cent of their total current liabilities.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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