In Numbers: Nigeria has N2.9trn Currency in circulation – CBN

currency in Circulation

In Numbers: Nigeria has N2.9trn Currency in circulation – CBN   Currency in Circulation (CIS) rose by N249 billion from N2.66 trillion as of the end of November to N2.91 trillion in December 2020. The Central Bank of Nigeria (CBN) disclosed this in a report plucked my Business Metrics from the apex bank’s website, showing that total money circulation rose from  N2.49 trillion as of the end of October. The CBN said as a result of its monetary policy actions, the reserve money grew moderately as of end-September 2020. In…

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CBN: Currency in circulation hits N2.426trn in September

CBN moves to regulate Open Banking in Nigeria

Currency in circulation (CIS) rose by N56.44 billion in one month from N2.369 trillion as of the end of August to N2.426 trillion as of the end of September, the Central Bank of Nigeria has revealed. The latest report on CIC released by the apex bank on Wednesday showed that the figure, which stood at N2.35 trillion as of the end of May, rose to N2.39 trillion as of the end of July. The currency-in-circulation on quarter-on-quarter basis fell by 6.0 per cent to N2.29 trillion at the end of…

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Nigerians, banks in possession of N2.39trn banknotes

CIC

The general public and deposit money banks (DMBs) in Nigeria have in their custodies a total sum of N2.39 trillion that constituted currency-in-circulation (CIC) in the country as at July ending. As additional N95.13 billion found its way into to the market, total currency in circulation (CIC) increased to N2.39 trillion in last month, rising from N2.29 trillion in June, 2020. According to the latest statistics obtained from the Central Bank of Nigerian (CBN), CIC, which stood at N2.3 trillion in April, rose slightly to N2.35 trillion at the end…

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Currency in circulation hits N2.35trn

CBN moves to regulate Open Banking in Nigeria

Huge cash transactions in the economy has continued to rise as currency in circulation rose to N2.35 trillion in May. This was despite coronavirus-induced lockdown and lull in economic activities in the country over past months. Statistics obtained from the Central Bank of Nigeria (CBN) on Monday showed that the figure, which stood at N2.29 trillion as of the end of March, rose to N2.3 trillion as atthe end of April. The apex bank stated, “Currency in circulation at end-November 2019 rose by 9.9 per cent to N2.2 trillion, in…

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