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[BUSINESS] · Nigeria · 11 sources

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Part of situation: Nigeria Naira exchange rate and liquidity dynamics (34 clusters)

Central Bank of Nigeria reports rising cash holdings and record reserves

Central Bank of Nigeria banking liquidity cash circulation foreign reserves monetary policy

The Central Bank of Nigeria (CBN) is managing significant shifts in the nation's financial landscape. Cash held outside the banking system rose to ₦4.87 trillion in August 2026, a 1.48 per cent increase from July, reversing a three-month decline. This rise occurs alongside a broad money supply (M3) that reached ₦139.38 trillion in August, up 16.4 per cent year-on-year.

To manage liquidity, the CBN has utilized Open Market Operations (OMO). Recent OMO sales resulted in a 65.53 per cent contraction in banking system liquidity, which dropped from ₦5.89 trillion to ₦2.03 trillion. These operations are part of a broader effort to regulate money circulation and support monetary policy transmission.

On the international front, CBN Governor Olayemi Cardoso announced that Nigeria’s foreign reserves have surpassed $55 billion, the highest level in over 18 years. This milestone is attributed to disciplined policy approaches and diaspora contributions. Additionally, the foreign exchange supply rose by 20.5 per cent to $8.94 billion in 2025, though demand remains high as utilization reached $50.93 billion during the same period.

Entities

Central Bank of Nigeria · Nairametrics · Nigeria · Olayemi Cardoso

Claims

What the coverage asserts, and how many sources carry each claim.

  • [○ 1 SOURCE] Nigeria's current account surplus rose by 67.9% to $7.54 billion in Q2 2026.
  • [● 2 SOURCES] Currency outside banks rose by N70.9 billion, or 1.48 per cent, from N4.80 trillion in July. brandspurng.com · thenews-chronicle.com
  • [● 2 SOURCES] Cash held outside Nigeria’s banking system increased to N4.87 trillion in August 2026. brandspurng.com · thenews-chronicle.com
  • [● 2 SOURCES] The amount of cash outside banks in August was N381.3 billion below the N5.25 trillion recorded in January. brandspurng.com · thenews-chronicle.com
  • [○ 1 SOURCE] Nigeria's money supply rose to N139.38 trillion in August from N119.69 trillion in August 2025. thenews-chronicle.com
  • [○ 1 SOURCE] Nigeria received $11.12 billion in personal transfers and workers’ remittances in the first half of 2026.

Sources

Excess Liquidity In Banking System Climbs 73%, Rates Mixed [dmarketforces.com]
CBN OMO Sales Cut Banking Liquidity By N3. 86tn To N2. 03tn [primanews.org]
CBN: Cash outside banks rises to ₦4. 87tn in August [nationalaccordnewspaper.com]
Nigeria’s FX Reserves Reach 18-Year High of $55 Billion, CBN Says [zalebs.com]
Money Supply Up 12. 4% YtD to N139. 38tn Despite CBN Tightening Stance [www.thisdaylive.com]
FX Supply Rises 20. 5% to $8. 94bn in 2025 – CBN - Economi Confidential [economicconfidential.com]
Nigeria’s cash outside banks hits N4. 87trn [blueprint.ng]
Cash Outside Nigerian Banks Rises To N4. 87 Trillion In August 2026 [brandspurng.com]
Cash Outside Banks Rises To N4. 87 Trillion In August [thenews-chronicle.com]
Nigeria’s foreign reserves cross $55 billion, highest in over 18 years – Cardoso [nairametrics.com]
Banking liquidity slumps N3. 86tn as OMO drains cash [punchng.com]