Tag Archives: currency in circulation

The currency in circulation (CIC) in the country has surged to N19.1 trillion over the past five months, despite the Monetary Policy Committee’s (MPC) tightening stance, according to recent data from the Central Bank of Nigeria (CBN). This growth highlights significant monetary dynamics within the country, as the overall money supply …

Central Bank of Nigeria (CBN), said currency in circulation (CIC) in the country rose to N1.68 trillion at the end of March 2023. This was even as it stated that its special intervention reserves currently stands at N419 billion. Currency-in-circulation is defined as amount of money outside the vaults of …

The currency in circulation in the country dipped by a 235.03 per cent to N982.09bn at the end of February from N3.29tn at the end of October 2022, on the back of the naira redesign policy of the Central Bank of Nigeria. Figures obtained from the CBN revealed that N2.3tn …

Nigeria’s currency in circulation fell to a record low of N1.39 trillion in January 2023, representing the lowest level since December 2015, or seven years ago. This is according to data obtained from the Central Bank of Nigeria (CBN). The total amount mopped up in just a month of January …

By Taiwo Oyedele In a strict sense, cash is used to describe notes and coins issued by the Central Bank, as distinct from cheques, bank deposits or credit. Let’s call it currency or “Hard Cash”. In a broader sense, cash is synonymous to money which includes currency and cash equivalents …

Following the difficulties experienced by Nigerians as a result of the ongoing cash crunch, which is a fallout of the Naira notes redesign policy, President Muhammad Buhari has addressed Nigerians. Recall, CBN had originally fixed January 31 as the deadline for the old N200, N500 and N1,000 notes to be …

The Central Bank of Nigeria said it recovered N1.9 trillion worth of currency in two months outside of the banking system following its naira notes redesign and cash swap policy. This was disclosed by the CBN governor Godwin Emefiele on Sunday, January 29, 2023, as part of his updates following …

Currency in circulation in Nigeria rose by N1.15 trillion in 2021 to N3.33 trillion as of December 2021 its highest level on record. This is on the back of several monetary policies adopted by the Central Bank of Nigeria to increase liquidity in the economy. According to the data obtained …

Currency in circulation rose by N29bn to N2.81tn as of the end of March from N2.78tn as of the end of February, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. Currency in circulation (CIC) dropped by N50bn in February from N2.83tn as of January. It …

Owing to the mop-up in the system, currency in circulation dropped by 1.8 percent to N2.78trillion in February from N2.83trillion reported by the Central Bank of Nigeria (CBN) in January 2021 Findings show that currency in circulation in its Year-to-Year performance gained 27 percent from N2.19trillion in February 2020 after …