Cash Outside Banks Drops to N4.8tn in July 2026

In July, cash outside Nigeria's banking system fell to N4.80 trillion, a decrease of N118.67 billion or 2.41% from June's N4.92 trillion, according to the Central Bank of Nigeria (CBN). This decline follows a sharper 5.22% drop in June, resulting in a total reduction of N389.64 billion or 7.5% since May.

Total currency in circulation also decreased by 2.55% to N5.38 trillion in July. Consequently, cash outside banks represented 89.24% of total currency in circulation, down from 89.11% in June.

Year-on-year, cash outside banks was up 8.65% compared to July 2025. Meanwhile, bank reserves rose by N2.73 trillion or 8.04% to N36.73 trillion, and broad money increased by 4.14% to N138.78 trillion.

Private sector credit grew by N171.80 billion or 0.21% to N83.43 trillion in July, continuing its upward trend despite a slowdown in growth pace.