Currency in circulation rises 81% to N5.4 trillion

Author: Peter EgwuatuPublished on: October 21, 2026Country: Nigeria

Business & Economy

Currency in circulation rises 81% to N5.4 trillion

Currency in circulation in Nigeria reached N5.436 trillion in August 2026, up 81% from N3.010 trillion in August 2023. Its annual growth slowed from 51.1% in 2024 to 11.2% in 2025 and 7.5% in 2026, despite the expansion of electronic payments. Bank reserves also rose 94.7% over the three-year period, reaching N36.067 trillion. David Adonri, managing director of High Cap Securities, said more cash held outside banks can reduce funds available for lending, but does not necessarily signal excessive liquidity or inflationary pressure.

Stay informed with NewsBoulevard

Get the latest news summaries delivered to your inbox

Related News

Delta youths seize Macaraba oil field over alleged marginalization

Business & EconomySociety & LifestyleNigeria

Jimitota Onoyume•18m ago

Delta youths seize Macaraba oil field over alleged marginalization

Hundreds of youths from Ifie-Kporo in Warri South shut down operations at the Macaraba oil field on Wednesday. Arriving by speedboat, they demanded jobs, recognition of their community as a host community, and respect for their rights over Wells 24 and 25, which they say are on their ancestral land. Protester Tosan accused the operating firm of treating the community unfairly, and the youths vowed to remain at the field until their demands are met. Citing the Petroleum Industry Act, they called for dialogue and warned that continued neglect could threaten peace in the area.

Miners’ unrest in Lualaba: tensions return to Kolwezi after a lull, schools close and traffic is disrupted on some roads

Business & EconomySociety & LifestyleDemocratic Republic of the Congo

Timothée Prince ODIA•33m ago

Miners’ unrest in Lualaba: tensions return to Kolwezi after a lull, schools close and traffic is disrupted on some roads

Tensions flared again on Wednesday in Kolwezi’s UCK, Kapata and Luilu neighborhoods, prompting schools to send students home, businesses to close and traffic to slow, including on the road to Musonoie. Police and Congolese armed forces are patrolling, with arrests reported, following days of barricades, clashes and fires, including the burning of a police post in Dilungu. Artisanal miners are protesting controls and the closure of mineral-processing centers and buying counters; they are demanding the promised 33 artisanal mining zones and access to sites such as Kamilombe. Governor Fifi Masuka Saini called for calm and discussed access to a legal mining zone, while inspections of mineral-processing facilities continue under a commission from Kinshasa.

Jonathan urges Nigeria to shift from imports to production

Business & EconomyNigeria

Soni Daniel•37m ago

Jonathan urges Nigeria to shift from imports to production

Former President Goodluck Jonathan urged Nigeria to develop the resources and technology needed to produce goods and services locally instead of relying on imports. He made the call on Wednesday while commissioning the Zeetin Technologies plant in Idu, Abuja, which manufactures tricycles for the Nigerian market. Jonathan said the country’s large youth population could boost local production, create economic opportunities and drive national development. He urged Nigeria to mobilise its human and material resources to strengthen domestic production and become a reliable exporter.

Stay Updated with NewsBoulevard

Subscribe to our newsletter for the latest news summaries delivered to your inbox