Cash outside Nigerian banks rises to N4.92tn in September – CBN

In September 2026, the amount of cash held outside Nigeria's banking system climbed to N4.92tn, marking an increase of N48.73bn from the previous month's N4.87tn, according to data released by the Central Bank of Nigeria (CBN). This rise occurred concurrently with a broader increase in the country's money supply, which expanded by N7.51tn to reach N146.6tn in September, up from N139.09tn in August.

The CBN's monetary data also revealed a corresponding increase in narrow money, comprising currency and highly liquid deposits, from N43.11tn in August to N44.05tn in September. Currency held outside the banking system refers to physical cash kept outside the banking sector, while broad money encompasses currency, demand deposits, savings and time deposits, as well as foreign currency deposits.

The overall rise in cash outside banks contributed to the wider expansion in the nation's money supply, which expanded by 18.3% from N123.95tn in January to N146.6tn in September.