Naira notes
Cash held outside Nigeria’s banking system rose to ₦4.87 trillion in August 2026, reversing a three-month decline, according to data from the Central Bank of Nigeria (CBN).
The figure increased by ₦70.9 billion, or 1.48 per cent, from ₦4.80 trillion recorded in July.
Currency outside banks had declined from ₦5.19 trillion in May to ₦4.92 trillion in June and further to ₦4.80 trillion in July, representing a cumulative decrease of ₦391.8 billion over the three months.
Despite the August increase, cash outside banks remained ₦381.3 billion below the ₦5.25 trillion recorded in January 2026.
However, the figure was ₦419 billion, or 9.4 per cent, higher than the ₦4.45 trillion recorded in August 2025.
Data showed that currency outside banks crossed the ₦5 trillion mark in January 2026, after standing at ₦4.47 trillion in September 2025.
The latest increase came as the CBN continues to promote digital payments and financial inclusion as part of efforts to reduce dependence on cash transactions.
Speaking at the launch of the Nigeria Payment System Vision 2028 on Monday September 21 in Abuja, CBN Governor Olayemi Cardoso said the roadmap targets reducing cash outside banks to below 40 per cent of total currency in circulation and achieving 95 per cent adult financial inclusion by 2028.
Nigeria’s digital payments ecosystem has expanded rapidly in recent years, driven by fintech platforms, mobile money, instant payment systems and digital banking services.
Meanwhile, broad money supply, measured as M3, rose to ₦139.38 trillion in August 2026 from ₦119.69 trillion in the corresponding period of 2025, representing a 16.4 per cent increase.
Net domestic assets also increased by ₦925.5 billion month-on-month in August.
