CBN Data Shows Money Outside Banks Exceeds Currency in Circulation in Nigeria

CBN Data Shows Money Outside Banks Exceeds Currency in Circulation in Nigeria …C0NTINUE READING HERE >>>

Current CBN data shows that money outside the banking system has outpaced currency in circulationAccording to the data, about 93.34% of Nigeria’s currency is in the hands of individuals and businessesAnalysts say the development defeats the drive for cashless policy and financial inclusion in Nigeria

Henzodaily.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Data from the Central Bank of Nigeria (CBN) shows that the total currency in circulation hit N4.14 trillion, with N3.87 trillion currently outside the Nigerian banking…

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