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CURRENCY OUTSIDE BANKS
The total value of currency outside Nigeria’s banking system rose to N4.6 trillion in March 2025, accounting for 91.9% of the N5.00 trillion in total currency in circulation during the period.
Latest data from the Central Bank of Nigeria (CBN) reveals a significant year-on-year (YoY) increase in the amount of currency outside the banking system, highlighting a shift in public behaviour regarding cash retention.
The amount of currency outside the banking system in Nigeria decreased to N3.66 trillion in July 2024, marking the second decline this year.