Currency in circulation (CIC) in Nigeria climbed to N5.015 trillion in April 2025, up marginally from N5.003 trillion in March, according to the latest data from the Central Bank of Nigeria (CBN).
The 0.24 percent increase reflects a continued build-up of liquidity in the economy despite efforts by the apex bank to tighten monetary conditions.
However, in a notable shift, the amount of currency held outside the formal banking system declined for the first time in three months.
It dropped to N4.57 trillion in April from N4.59 trillion in March, representing a 0.4 percent month-on-month decrease. Despite the decline, a significant portion of currency, 91.2 per cent remains outside banks, slightly down from 91.4 percent in the previous month.
Currency in circulation has steadily increased over the past year. In April 2024, CIC was N3.92 trillion, with N3.61 trillion or about 92 per cent outside the banking system.
By May 2024, total CIC rose to N3.97 trillion, with N3.71 trillion held outside banks. In June, CIC climbed to N4.05 trillion, with N3.79 trillion, representing 93.5 percent outside the banking system.
