Currency outside banks rises 104% in 3 yrs — CBN
AI Executive Briefing
Verified Synthesis~28s readData from the Central Bank of Nigeria, CBN, Money and Credit Statistics, also showed that currency outside banks increased by 10.3 per cent year-on-year from N4.465 trillion in September 2025 to N4.923 trillion in September 2026. Demand deposits climb 71% •Analysts highlight cash dependence, financial inclusion challenges By Peter Egwuatu Currency held outside the banking system by Nigerians rose by 103.8 per cent to N4.923 trillion in September 2026 from N2.416 trillion in September 2023, highlighting the persistent demand for physical cash despite the expansion of electronic payment channels in the country.
Context & Background
- ✦Demand deposits rise 71% Meanwhile, demand deposits in the banking system increased by 70.8 per cent to N39.124 trillion in September 2026 from N22.903 trillion in September 2023.
Key Figures & Named Entities
2026:Demand deposits climb 71% •Analysts highlight cash dependence, financial inclusion challenges By Peter Egwuatu Currency held outside the banking system by Nigerians rose by 103.8 per cent to N4.923 trillion in September 2026 from N2.416 trillion in September 2023, highlighting the persistent demand for physical cash despite the expansion of electronic payment channels in the country.2025:Data from the Central Bank of Nigeria, CBN, Money and Credit Statistics, also showed that currency outside banks increased by 10.3 per cent year-on-year from N4.465 trillion in September 2025 to N4.923 trillion in September 2026.2023:A breakdown of the data showed that currency outside banks increased by 66.2 per cent from N2.416 trillion in September 2023 to N4.016 trillion in September 2024.
Outlook & Next Steps
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Key Takeaways
Verified Extract- Data from the Central Bank of Nigeria, CBN, Money and Credit Statistics, also showed that currency outside banks increased by 10.3 per cent year-on-year from N4.465 trillion in September 2025 to N4.923 trillion in September 2026.
- Demand deposits climb 71% •Analysts highlight cash dependence, financial inclusion challenges By Peter Egwuatu Currency held outside the banking system by Nigerians rose by 103.8 per cent to N4.923 trillion in September 2026 from N2.416 trillion in September 2023, highlighting the persistent demand for physical cash despite the expansion of electronic payment channels in the country.
- Demand deposits rise 71% Meanwhile, demand deposits in the banking system increased by 70.8 per cent to N39.124 trillion in September 2026 from N22.903 trillion in September 2023.
Key Facts:2026: Demand deposits climb 71% •Analysts highlight cash dependence, financial inclusion challenges By Peter Egwuatu Currency held outside the banking system by Nigerians rose by 103.8 per cent to N4.923 trillion in September 2026 from N2.416 trillion in September 2023, highlighting the persistent demand for physical cash despite the expansion of electronic payment channels in the country.2025: Data from the Central Bank of Nigeria, CBN, Money and Credit Statistics, also showed that currency outside banks increased by 10.3 per cent year-on-year from N4.465 trillion in September 2025 to N4.923 trillion in September 2026.2023: A breakdown of the data showed that currency outside banks increased by 66.2 per cent from N2.416 trillion in September 2023 to N4.016 trillion in September 2024.2025: The figure subsequently rose to N4.465 trillion in September 2025, an increase of 11.2 per cent from the corresponding period in 2024, before climbing further to N4.923 trillion in September 2026.
Editorial Excerpt
Currency held outside the banking system by Nigerians rose by 103.8 per cent to N4.923 trillion in September 2026 from N2.416 trillion in September 2023
Frequently Asked Questions About This Story
What is the latest development regarding Central Bank of Nigeria?
Data from the Central Bank of Nigeria, CBN, Money and Credit Statistics, also showed that currency outside banks increased by 10.3 per cent year-on-year from N4.465 trillion in September 2025 to N4.923 trillion in September 2026.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Central Bank of Nigeria.
What timeline or key figures were confirmed?
Demand deposits climb 71% •Analysts highlight cash dependence, financial inclusion challenges By Peter Egwuatu Currency held outside the banking system by Nigerians rose by 103.8 per cent to N4.923 trillion in September 2026 from N2.416 trillion in September 2023, highlighting the persistent demand for physical cash despite the expansion of electronic payment channels in the country.
