Cash Outside Banks Drops to 89.1% in June 2026

As of June 2026, cash held outside the banking system in Nigeria fell to 89.1% of the total currency in circulation, a decrease from 91.3% in May 2026, according to data from the Central Bank of Nigeria (CBN). This decline represents a drop of N271 billion, bringing the total cash outside banks to N4.922 trillion, down from N5.193 trillion in May.

The total currency in circulation also decreased by N167 billion to N5.523 trillion from N5.690 trillion in the previous month. This change marks the first time in 11 months that the ratio of cash outside banks has fallen below 90%, indicating a return of cash to the formal banking system.

The last time the ratio was this low was in July 2025. The trend suggests improved banking system liquidity and increased utilization of formal financial channels.

Over the past year, the ratio fluctuated but remained elevated, peaking at 94.3% in December 2025 before gradually declining.