Nigeria’s Cash Circulation Surpasses N5.4trn

Nigeria's currency in circulation reached N5.44 trillion in August 2026, marking an 81 per cent increase from N3.01 trillion in August 2023. This growth highlights the persistent demand for physical cash despite the expansion of electronic payment systems.

The Central Bank of Nigeria's Money and Credit Statistics indicate that the most significant rise in cash circulation occurred between August 2023 and August 2024, with an increase of N1.54 trillion or 51.1 per cent.

The rate of growth slowed in subsequent years, with currency in circulation rising to N5.057 trillion in August 2025, reflecting an 11.2 per cent increase from the previous year.