{
  "id": 6352747,
  "title": "Cash Outside Banks Declines to N4.8tn, Now 89.2% of CIC",
  "url": "https://urgent.news/2026/09/08/cash-outside-banks-declines-to-n4-8tn-now-89-2-of-cic",
  "topic": "world",
  "section": "World",
  "published": "2026-09-08T23:58:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/09/cash-outside-banks-declines-to-n4-8tn-now-89-2-of-cic/"
  },
  "original_language": "en",
  "account": "In July, the volume of cash held outside Nigeria's banking system dropped to its lowest level in eight months, according to the Central Bank of Nigeria's latest figures. The currency held outside banks declined by N118.67 billion, or 2.41%, to N4.80 trillion from N4.92 trillion in June. This followed a steeper 5.22% month-on-month decrease in June, where cash held outside banks fell from N5.19 trillion in May. The two-month decline has reduced currency outside banks by N389.64 billion, or 7.5%, from the May level.\n\nIn parallel, total currency in circulation (CIC) also fell for the second consecutive month, declining by 2.55% to N5.38 trillion in July from N5.52 trillion in June. Consequently, currency outside banks represented 89.24% of total CIC in July, down from 89.11% in June and 91.27% in May. Despite the annual increase remaining higher, the direction has moderated. The share of cash outside banks in CIC eased from 89.82% in July 2025 to 89.24% in July 2026.\n\nMeanwhile, the banking system's liquidity strengthened. Bank reserves rose by N2.73 trillion, or 8.04%, to N36.73 trillion in July, while broad money increased by 4.14% to N138.78 trillion. Credit to the private sector continued its upward trend, albeit with a moderated pace. Private-sector credit increased by N171.80 billion, or 0.21%, to N83.43 trillion in July from N83.26 trillion in June. Over the past year, private-sector credit has risen by N6.71 trillion, or 8.74%, from N76.72 trillion in July 2025.\n\nOn a contrasting note, credit to government sharply declined in July, falling by N6.11 trillion, or 15.27%, to N33.92 trillion from N40.03 trillion in June. This decrease more than offset the marginal increase in private-sector credit, leading to a 4.82% drop in net domestic credit to N117.35 trillion from N123.29 trillion. However, on an annual basis, government credit remained significantly higher, increasing by 43.17% from N23.69 trillion in July 2025.",
  "summary": "Nume Ekeghe Cash outside Nigeria’s banking system fell for the second consecutive month in July to its lowest level in eight months, even as credit to the private sector continued",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}