Cash Outside Banks Rises to N5.19trn as Credit Rebounds

The amount of cash held outside Nigeria’s banking system rose to N5.193 trillion in May 2026, even as banking sector credit to the private sector recorded a marginal rebound after declining in the preceding month.

Latest monetary statistics released by the Central Bank of Nigeria (CBN) showed that currency outside banks increased by 2.16 per cent from N5.083 trillion in April to N5.193 trillion in May. The figure was also slightly higher than the N5.188 trillion recorded in February.

The development came amid a modest recovery in lending to the private sector, with credit rising by 0.56 per cent to N81.041 trillion in May from N80.585 trillion in April.

The increase reversed the decline recorded in April and points to a gradual recovery in lending activities to businesses and households. However, private sector credit remained significantly below the all time high of N94.610 trillion recorded in February.

Data from the apex bank showed that private sector credit was 14.34 per cent lower than the February peak and also below the N93.743 trillion recorded in January. Nonetheless, it remained 6.87 per cent higher than the N75.834 trillion recorded at the end of December 2025.