Nigeria’s currency in circulation declined to N5 trillion in March 2025, according to the latest data from the Central Bank of Nigeria (CBN), reflecting a continued drop for the third consecutive month in 2025.
Currency outside banks hit a new high of N4.65 trillion in November 2024, representing 95.4% of the total currency in circulation, as Nigerians grappled with persistent cash scarcity despite efforts by the Central Bank of Nigeria (CBN) to ease the situation.
The latest data from the Central Bank of Nigeria (CBN) shows that the currency in circulation (CIC) reached a year-high of N4.05 trillion in June 2024, up by 56% from N2.6 trillion in the same month of the previous year.
Nigeria’s Central Bank Digital Currency (CBDC), eNaira, makes up less than 1% of the total currency in circulation as of March 2024, almost three years after it was launched.
The amount of currency outside the Nigerian banking system has reached a new all-time high of N3.71 trillion in May 2024.
About 92% of the CIC is outside the banking system as of November 2023.
Currency in circulation in Nigeria fell by N37.94 billion in February to N3.25 trillion compared to N3.29 trillion recorded as of January 2022.
Nigeria's currency in circulation increased by 39.4% in the year compared to N2.91 trillion recorded as of the end of the previous year.
The total currency in circulation in Nigeria hit an all-time high of N2.97 trillion as of October 2021,...
The Central Bank of Nigeria recorded about N2.907 trillion currency in circulation in the economy as at end-December...
Nigeria's currency-in-circulation between December 2018 and May 2019, has declined by 6%. This is according to @centralbank
