According to the latest figures from the Central Bank of Nigeria (CBN), Nigeria'

2025-04-22 12:36

According to the latest figures from the Central Bank of Nigeria (CBN), Nigeria's currency in circulation fell to N5 trillion in March 2025.
images (12).jpeg

"Currency in circulation" denotes the total amount of cash—both coins and paper currency—issued by the CBN and actively utilized for transactions by the public and businesses outside the banking sector. The report from the central bank indicated a month-on-month decrease in currency in circulation (CIC) of 0.79%, down from N5.04 trillion in February 2025 and N5.24 trillion in January 2025. This translates to an overall reduction of N240 billion, or 4.58%, during the first quarter of 2025. In contrast, the reserves held by banks with the CBN increased to N28.5 trillion in March 2025, up from N27.6 trillion in February and N27.43 trillion in January. This growth in bank reserves may be attributed to a rise in deposit inflows, tighter liquidity, or strategic measures by the CBN to address inflationary concerns. Additionally, it may indicate improved compliance by deposit money banks with the apex bank's Cash Reserve Ratio (CRR) requirements.