- The amount of currency held outside Nigeria’s banking system surged to N3.79tn in June 2024
- A sizable amount of money outside of the traditional banking industry undermines the CBN’s policy objectives
- According to CBN data, loans to the private sector fell from N74.3 trillion to N73.12 trillion recently
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Experts said that the enormous amount of unbanked money has been seriously impeding the Central Bank of Nigeria’s (CBN) ability to effectively implement its policies and manage the country’s economy.
