Cash Outside Banks Hit N4.92tn, Now 89% of Currency in Circulation
Nume Ekeghe Cash held outside Nigeria’s banking system stood at N4.92 trillion in September 2026, accounting for 89.23 per cent of the N5.52 trillion currency in circulation, the Central Bank
According to the Central Bank of Nigeria's September 2026 Money and Credit Statistics, cash held outside the country's banking system reached N4.92 trillion, constituting 89.23% of the N5.52 trillion currency in circulation. Although cash outside banks increased by 10.26% year-on-year from N4.47 trillion in September 2025 to N4.92 trillion in September 2026, its share of total currency in circulation slightly decreased from 90.15% to 89.23%.
This suggests that despite the rise in cash outside banks, its proportion of the total currency in circulation moderated. Meanwhile, the overall currency in circulation expanded to N5.52 trillion from N4.95 trillion a year earlier, marking an increase of 11.40%. The figures also reveal that currency in circulation accounted for 3.76% of the broad money supply, measured by M3, in September 2026, down from 4.21% in September 2025.
The broader money supply expanded to N146.60 trillion in September, a 24.47% rise from N117.78 trillion a year earlier, explaining the decline in cash's share within the monetary aggregate.
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