Currency in circulation within the Nigerian banking sector surged to ₦5.24 trillion in January 2025, marking the highest level ever recorded by the Central Bank of Nigeria (CBN).
This significant increase, up from ₦4.88 trillion in December 2024, represents a ₦1.22 trillion rise from the ₦3.65 trillion reported in January 2024.
Analysts attribute the rise to sustained printing of the local currency by the CBN and the escalating inflation rate in the country.