• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 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

Currency In Circulation Hits N5.24trn As Banks’ Credit Declines

by Bukola Aro-Lambo
6 months ago
in Business
new minimum wage
Share on WhatsAppShare on FacebookShare on XTelegram

The amount of currency in circulation in the country rose in January 2025 to N5.235 trillion, a 7.3 per cent and 43.6 per cent increase compared to the November and January 2024 figures respectively as the credit by the financial system to both the government and private sector declined last month.
Data just released by the Central Bank of Nigeria (CBN) showed that the total currency in circulation rose from the November figure of N4.878 trillion to N5.235 trillion in January. This is compared to N3.65 trillion that was in circulation in January last year.

Advertisement

At N4.74 trillion, the currency outside banks also rose in the period under review, rising by 1.9 per cent and 44.5 per cent when compared to N4.65 trillion and N3.28 trillion that was in circulation outside the formal financial system as at November and January last year respectively.

The money and credit statistics showed that with N4.74 trillion, or 90.4 per cent, of the total currency in circulation being held outside the banking system, cash continued to remain king in the economy.
Meanwhile, the credit to the economy by the financial system, while almost at the same level which it was in January last year, was down by 14 per cent compared to the total credit as at November last year.

According to the CBN data, credit declined from N115.576 trillion in November 2024 to N99.405 trillion last month.

The decline was mainly due to a cut in lending to the government. Data showed that financial sector credit to the government declined by 38.1 per cent from N39.61 trillion in November 2024 to N24.51 trillion in January 2025.

RELATED

From Civic Duty To Development: The Importance Of Taxation

From Civic Duty To Development: The Importance Of Taxation

16 minutes ago
PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

7 hours ago
ADVERTISEMENT

Credit to the private sector also declined albeit not at the same rate with credit to government. Data showed that financial system credit to the private sector stood at N74.88 trillion as against N75.96 trillion that was recorded in November and N76.47 trillion in January last year.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Central Bank of Nigeria (CBN)
SendShare10174Tweet6359Share
ADVERTISEMENT
Previous Post

South East Can’t Deny Tinubu Support – Ogbulafor

Next Post

Amid Global Rush, Nigeria’s $34bn Lithium Reserves In High Demand

Bukola Aro-Lambo

Bukola Aro-Lambo

You May Like

From Civic Duty To Development: The Importance Of Taxation
Business

From Civic Duty To Development: The Importance Of Taxation

2025/08/26
PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability
Business

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

2025/08/26
JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance
Business

Delayed Guidelines Drag Insurance Recapitalisation Process

2025/08/25
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Shareholders Get N117.86bn Half-year Dividends From 12 Listed Firms

2025/08/25
UBA Bank plc
Business

UBA Customers To Win N150m In Super Savers Promo

2025/08/25
Bureau Rate NIMASA High On Public Service Reforms
Business

NIMASA, Engineers Strengthen Collaboration For Blue Economy Growth

2025/08/25
Leadership Conference advertisement

LATEST

Ex-DG Asks Northern Govs To Develop Leather Sector

Kwara APC Elders Warn Against Politicising Insecurity

LP Faults RMAFC’s Defence Of Politicians’ Pay Rise

PDP Governors Lambast ADC Over Comment On Zamfara Meeting

We’ll Adopt Lagos, Zamfara Resolutions, Work For Victory – PDP Reps

2027: You’ve Failed, APC Replies PDP Governors

Bolaji Abdullahi And The ADC: Not Everything Is Politics

African Security: Nigeria Leads From The Front

From Civic Duty To Development: The Importance Of Taxation

Governor On Leave, But Governance Continues

© 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.