Nume Ekeghe Currency outside the banks has spiked for the fourth consecutive month to N2.08trillion in April 2023, about 87.43 per cent of total currency in circulation (CIC) that closed that month under
Currency outside the banks has spiked for the fourth consecutive month to N2.08trillion in April 2023, about 87.43 per cent of total currency in circulation that closed that month under review at N2.38trilllion.
Also, the nine-month breakdown of currency outside the banks reveals that the month of September was N2.72 trillion October N2.83 trillion November N2.65 trillion and December N2.57, While January recorded its lowest at N792 billion, February N843 billion, and in March N1.45 trillion and April N2.07 trillion.
Also, he noted that because Nigeria just concluded an election, there are a lot of funds still circulating in the economy and that confidence in electronic banking has not returned to pre-policy.
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