Cash held outside Nigeria’s banking system rose to N4.92tn in September 2026 from N4.87tn in August, according to Central Bank of Nigeria data reported by Punch.
The increase was N48.73bn. Over the same period, broad money supply rose by N7.51tn, from N139.09tn to N146.6tn.
The figures come from the CBN’s monetary data released on Wednesday, October 21. They distinguish physical cash outside banks from the wider stock of money, which also includes bank deposits.
Narrow money, comprising currency and highly liquid deposits, increased from N43.11tn in August to N44.05tn in September. Broad money includes cash, demand deposits, savings and time deposits, as well as foreign currency deposits.
Broad money supply stood at N123.95tn in January. Punch reported that the September level represented an 18.3 per cent increase over that figure.
The September data followed the CBN’s decision that month to cut its benchmark interest rate from 26.5 per cent to 23 per cent. The Monetary Policy Committee retained the cash reserve requirement for commercial banks at 45 per cent and merchant banks at 16 per cent, alongside the 75 per cent requirement on non-Treasury Single Account public-sector deposits.
Source: Punch
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