By Samuel Akpan
Nigerians continued to hold more physical cash beyond the banking system as currency outside banks jumped N48.73 billion to N4.92 trillion in September 2026, extending the increase for a second straight month, Central Bank of Nigeria data showed.
The September figure rose from N4.87 trillion in August, which had itself climbed from N4.80 trillion in July after an earlier decline.
On a yearly basis, cash outside banks expanded by N458.22 billion, moving from N4.47 trillion in September 2025 to the latest N4.92 trillion level.
The stock had fallen from N5.19 trillion in May 2026 to N4.92 trillion in June and N4.80 trillion in July before recovering to N4.87 trillion in August and N4.92 trillion in September.
Total currency in circulation also increased to N5.52 trillion in September from N5.44 trillion in August, with cash outside banks accounting for 89.23 percent of the total, compared with 89.67 percent a month earlier.
Broad money supply surged by N7.51 trillion to N146.6 trillion, demand deposits rose by N888.35 billion to N39.12 trillion, government credit climbed by N6.36 trillion to N39.4 trillion, while private sector credit dropped by N537.61 billion to N83.93 trillion.
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