Cash Outside Banks Rises Sharply
The Central Bank of Nigeria has reported an increase in cash outside banks, has this affected your daily transactions or business, do you prefer cash or digital payments?
What Happened
Cash outside Nigerian banks rose to N4.92tn in September, increasing by N48.73bn from August.
Who Is Affected
The increase affects Nigeria's broad money supply, which includes cash, demand deposits, and foreign currency deposits.
What Happens Next
The rise in cash outside banks is part of a wider expansion in money supply, which increased by 18.3 per cent from January to September.
The takeaway
Cash outside Nigerian banks increases to N4.92tn in September
This story is based on reporting by Punch, written in our own words and checked against that report before publishing. Spotted an error? Report it.
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