"How CBN reduced currency in circulation to N982 billion

By
NigeriaDNA
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  • The Central Bank of Nigeria said the total currency in circulation had been reduced to N982 billion
  • Data shows this is the lowest since 2015, representing about 235.03 per cent.
  • The amount was reduced from N3.29 trillion in October 2023 as CBN pushed its cashless policy

The Central Bank of Nigeria (CBN) has reduced currency in circulation to an all-time low of N982 billion, representing 235.03 per cent at the end of February.

The amount shrunk from N3.29 trillion at the end of October 2022 as CBN’s aggressive naira mop-up and redesign policies took center stage.

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