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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