Currency in circulation up by N200bn in 5 months. What you should know

The currency in circulation (CIC) has increased by 7.4% in the first five months of 2023, the Central Bank of Nigeria (CBN) has revealed.

In a data released on Tuesday, the CBN said the currency in circulation, which comprises funds within and outside the banking system, increased by N200 billion.

In January this year, the currency in circulation was put at N2.3 trillion, but four months after, the currency within and outside the banks rose to N2.5 trillion in May.

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