Currency Outside Banks Hits N2.29 Trillion In August - Business - Nairaland
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| Currency Outside Banks Hits N2.29 Trillion In August by SKYTREND(m): 11:12am On Sep 28, 2023 |
Currency Outside Banks (CoB) saw a month-on-month increase of N90 billion, representing a 4.09 percent rise from N2.2 trillion in July 2023 to N2.29 trillion. This upward trend in CoB has been ongoing since March and can be attributed to the Supreme Court order that allows old N200, N500, and N1,000 notes to remain in circulation until December 31, 2023. The Central Bank of Nigeria’s (CBN) Money and Credit data for August reported that Currency-In-Circulation (CIC) stood at N2.66 trillion, marking a 2.7 percent increase from the N2.59 trillion recorded in July 2023. Continue Reading https://www.veryserial.com/currency-outside-banks-hits-n2-29-trillion-august/
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