Currency in circulation rises to N2.35trn Naira

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Despite lockdown introduced to contain the spread of COVID-19 in the country, huge cash transactions in the economy had continued to rise as currency in circulation rose to N2.35tn in May.

Statistics obtained from the Central Bank of Nigeria on Monday showed that the figure, which stood at N2.29tn as of the end of March, rose to N2.3tn as of the end of April.

The apex bank stated, “Currency in circulation at end-November 2019 rose by 9.9 per cent to N2.2tn, in contrast to the decline of 0.4 per cent at end of third quarter 2019.

According to the apex bank, analysis of the currency in circulation showed that a large and increasing proportion of the Nigerian currency outside the commercial banking system was held by the general public who hoard a lot of the new banknotes.



Aneta Felix

Aneta Felix is a seasoned broadcast journalist and versatile content producer with an interest in reporting on human and gender rights, insecurity, corruption, and development among others. She has over five years of progressive experience, working across online, radio, and TV platforms, reporting the Boko Haram insurgency in Adamawa state, covering elections across the country and interviewing CEOs of multi-million dollar companies. Aneta is also the producer and presenter of the business documentary program, Startups, on TV360 Nigeria. She is a graduate of International Studies and Diplomacy from the University of Benin and is based in Lagos Nigeria.


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