Nigeria's Currency in Circulation Hits Record High of N5.7 Trillion in 2025

The Central Bank of Nigeria (CBN) revealed that the currency in circulation in Nigeria surged to an all-time high of N5.7 trillion in December 2025, compared to N5.44 trillion in December 2024. The CBN tightened its monetary policy, leading to an inflation rate of 15.15% in December 2025.

Despite the increase in electronic transfers, physical cash transactions remained high, especially during the festive season. The circulation of currency crossed the N5 trillion mark in December, reflecting a lack of confidence in the banking system and a preference for cash transactions.

The situation poses risks to the country's inflation rate and purchasing power. Mr.

Olayemi Cardoso, who assumed office in September 2023, commented on the high currency circulation, emphasizing the impact of government spending on the economy. Mr.

David Adnori of Highcap Securities Limited highlighted the trade-off between increased government spending and inflation.