As Nigerians battle with Naira scarcity, the Central Bank of Nigeria (CBN) continues to mop up currency in circulation, leaving the economy with N982.09 billion, according to data obtained from the financial regulator on Sunday.
At the end of October 2022, Naira in circulation was N3.29 trillion before the CBN began its Naira redesign policy, which resulted in the scarcity of banknotes.
Ripples Nigeria had reported that the central bank complained about the currency in circulation, with CBN governor, Godwin Emefiele, attributing it to soaring inflation.
