Currency in circulation (CIC) in Nigeria rose to N5.73 trillion in 2025 from N5.44 trillion recorded in 2024, as the Central Bank of Nigeria (CBN) printed 3.43 billion units of naira notes to meet growing cash demand, the apex bank’s 2025 Annual Report has revealed.
The report showed that the 3.43 billion currency notes, covering various denominations, were produced by both the Nigerian Security Printing and Minting Company (NSPM) Plc and foreign security printers.
According to the CBN, NSPM supplied 1.23 billion notes, while foreign printers delivered 2.20 billion units during the year.
To support the country’s currency requirements, the apex bank approved a total currency indent of 5.70 billion notes across different denominations for 2025, representing a 20.5 per cent increase over the 4.73 billion pieces approved in 2024.
Under the allocation, NSPM was assigned 2.0 billion notes, representing 35 per cent of the total order, while foreign security printers accounted for the remaining 65 per cent.
However, the report indicated that not all approved orders had been completed by the end of the year. It noted that a supplementary order of 1.50 billion notes awarded to foreign printers in November 2025 was still being processed as of December 31, while NSPM had 760.76 million notes, representing about 38 per cent of its allocation, yet to be delivered.
The CBN attributed the increase in currency circulation to heightened economic activity and stronger demand for cash across the economy, with CIC rising by N290 billion year-on-year to N5.73 trillion in 2025.
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