• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, August 4, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Cash Outside Banking System Rises To N3trn As Banks Rations Cash

by BUKOLA ARO-LAMBO
2 years ago
in Business
Cash
Share on WhatsAppShare on FacebookShare on XTelegram

Despite the scarcity of cash in the country which has seen banks limit the amount customers can withdraw from Automated Teller Machines(ATMs) and over the counter, latest data from the Central Bank of Nigeria (CBN) shows that nearly all the currency in circulation is already outside banks.

Advertisement

Latest data shows that , of the N3.347 trillion currency in circulation (CIC) as at November 2023, N3.081 trillion is already outside of banks representing 92.05 per cent of the currency in circulation.
This is a jump from N2.696 trillion that was outside the banking system in October last year when CIC was N3.01 trillion.

In January last year at the height of the currency redesign, currency in circulation stood at N1.386 trillion with the percentage of the cash outside the banks standing at 57 per cent at N792.184 billion. By February, the cash outside banks rose to N843.311 billion representing 85.9 per cent of the N982.097 billion that was in circulation.
By March, the percentage had dropped to 85.8 per cent with N1.445 trillion of the N1.683 trillion CIC, outside the banking system. As the currency in circulation rose to N2.379 trillion in April, the currency outside banks rose to 87.3 per cent at N2.078 trillion.

In May, the percentage dropped to 86.2 per cent as cash outside banks stood at N2.177 trillion out of the N2.526 trillion CIC. By June the currency outside banks further rose to N2.263 trillion, which is 86.9 per cent of the N2.603 trillion that is CIC.

July saw a decline in cash supply as currency outside the banks as well as CIC dropped to N2.206 trillion and N2.595 trillion respectively, with the percentage also dropping to 85 per cent. The uptick resumed in August with the percentage of cash outside banks which was N2.223 trillion dropped to 83.6 per cent of the N2.66 trillion CIC.
The uptick continued in September with N2.761 trillion CIC of which 87.5 per cent, N2.416 trillion was outside the banking system.

RELATED

VitalSwap Unlocks Global Revenue Channels For African Remote Workers

VitalSwap Unlocks Global Revenue Channels For African Remote Workers

11 hours ago
Presco Lauds 2024 Staff’s Performance, Explains 2025 Agenda

Presco Grows Pre-tax Profit By 121.8% To N111.9bn

19 hours ago

A review of the 11 months period showed that November 2023 marked the highest recorded levels for both currency in circulation and currency outside banks, with the percentage of money outside the banks concerning CIC reaching a peak of 92 per cent.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

PEBEC: FG Targets Intervention Programme For MSMEs

Next Post

Sovereign Trust Insurance Lists New 2.86bn Shares  On NGX

BUKOLA ARO-LAMBO

BUKOLA ARO-LAMBO

You May Like

VitalSwap Unlocks Global Revenue Channels For African Remote Workers
Business

VitalSwap Unlocks Global Revenue Channels For African Remote Workers

2025/08/03
Presco Lauds 2024 Staff’s Performance, Explains 2025 Agenda
Business

Presco Grows Pre-tax Profit By 121.8% To N111.9bn

2025/08/03
Nigerian Breweries Records N106bn Net Loss
Business

Nigerian Breweries Records N738.14bn Revenue

2025/08/03
‘95,000 Women, Children Die Annually From Charcoal Smoke’
Business

Charcoal Trade Threat To Forest Sustainability, Livelihood – FG

2025/08/03
Shippers’ Council Condemns Vandalism, Theft Of Rail Tracks
Business

Shippers’ Council Seeks Abia Govt. Support On Isiala Ngwa Inland Dry Port Revival

2025/08/03
Use Existing Frameworks To Bridge Metering Gap, NERC Tells Distribution Firms
Business

NERC Transfers Regulatory Oversight Of Electricity Market In Nasarawa State To NASERC

2025/08/03
Leadership Conference advertisement

LATEST

SAZU Hub Of Unity, Cultural Preservation – VC

Federal Gov’t Extends Deadline For NIS, NSCDC, Prisons Recruitment

Monarch’s War Against Drug, Substance Abuse Yielding Results

The Ticking Time Bomb Called Climate Change

2027: Otuaro Urges Niger Delta Ex-agitators To Shun Desperate Politicians Planning Mischief

Goodluck Jonathan Visits IBB In Minna

El-Rufai: Tinubu’s Reelection Will Ruin Nigeria’s Social Capital

Rainstorm Wreaks Havoc On Plateau Community, Flood Submerges Farmlands In Niger, Kogi

ACF Rejects Peter Obi’s Reiterated One-term Pledge

₦712bn Lagos Airport Renovation To Be Funded Without Loans, Says Keyamo

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.