Nigeria's cash outside banks drops to seven‑month low in June 2026

Cash held outside Nigeria’s banking system fell to ₦4.92 trillion in June 2026, the lowest level in seven months and representing 89.1 % of total currency in circulation. The decline of ₦485.8 billion from the ₦5.41 trillion recorded in December 2025 marks the largest monthly drop in the available data series.

The overall currency in circulation also contracted to ₦5.52 trillion, a 3.66 % fall. The Central Bank of Nigeria said the trend supports its Nigeria Payment System Vision 2028, which aims to deepen digital payments and reduce cash held outside banks to below 40 % of total currency.