Central Bank of Nigeria Reports Cash Rise to N4.87 Trillion
In August 2026, cash held outside Nigeria's banking system increased to N4.87 trillion, marking a reversal from three consecutive months of decline. According to data from the Central Bank of Nigeria (CBN), this rise of N70.9 billion, or 1.48%, follows a decrease from N5.19 trillion in May to N4.92 trillion in June and N4.80 trillion in July, totaling a decline of approximately N391.8 billion over three months.
The CBN's data indicates that currency outside banks was N5.25 trillion in January and N5.19 trillion in February, before fluctuating to N5.08 trillion in April and back to N5.19 trillion in May. The increase in August is significant as it aligns with the CBN's ongoing efforts to promote digital payments and achieve 95% financial inclusion of the adult population by 2028.
Additionally, Nigeria's broad money supply (M3) rose to N139.38 trillion in August 2026, reflecting a 16.4% increase from N119.69 trillion in August 2025.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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