The amount of cash circulating outside Nigeria’s banking system fell to ₦5 trillion in March, according to new Central Bank figures. That is a drop of almost five per cent, or ₦240 billion, since January.
At the same time, commercial‑bank reserves parked with the CBN climbed to ₦28.5 trillion, up nearly a trillion naira in the first quarter.
The report published by the apex bank showed that currency in circulation (CIC) fell by 0.79% month-on-month from N5.04 trillion in February 2025 and N5.24 trillion recorded in January 2025.
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This marks a cumulative decline of N240 billion or 4.58% in the first quarter of 2025.
Meanwhile, banks’ reserves held with the CBN rose to N28.5 trillion in March 2025, up from N27.6 trillion in February and N27.43 trillion in January.
Analysts say the rise reflects tighter liquidity controls and higher compliance with the Bank’s cash‑reserve ratio, part of efforts to tame inflation and support the naira.
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