Currency Outside Banks Rise 66% To N4trn …C0NTINUE READING HERE >>>
The volume of currency outside the Nigerian formal banking industry continued to rise, reaching N4.016 trillion by the end of September 2024, a 66.2 per cent increase over N2.416 trillion which it was at the end of September 2023, latest data from the Central Bank of Nigeria (CBN) has shown.
This is as the money supply (M3) grew by 62.8 per cent year-on-year (YoY) in September 2024, despite the Monetary Policy Committee’s (MPC) tightening stance aimed at curbing excess liquidity…
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