CASH OUTSIDE NIGERIAN BANKS RISES TO N4.92TN IN SEPTEMBER – CBN

Cash Outside Nigerian Banks Rises to ₦4.92 Trillion in September

The amount of cash held outside Nigerian banks rose to ₦4.92 trillion in September 2026, according to figures reported from the Central Bank of Nigeria.

This was up from approximately ₦4.87 trillion in August, representing an increase of about ₦50 billion based on the rounded figures.

In everyday terms, “cash outside banks” means physical money held by individuals and businesses rather than kept in bank vaults. It includes cash in people’s wallets, shop tills and money set aside for daily expenses.

The September increase followed an earlier rise from ₦4.80 trillion in July to ₦4.87 trillion in August, showing that cash holdings outside banks increased for a second consecutive month.

The figures highlight the continued role of physical money in Nigeria, even as bank transfers, mobile banking and other electronic payment options expand.

However, the data alone do not explain why cash holdings increased. They also do not establish that Nigerians are losing confidence in banks or deliberately hoarding money.

The development comes as the CBN continues its drive to encourage digital payments and bring more people into formal financial services. Its payment system roadmap targets wider financial inclusion and a reduction in the proportion of currency held outside banks.

For households and businesses, the latest figures show that physical cash remains part of everyday financial activity alongside digital transactions. Understanding the reasons behind the increase would require further evidence about withdrawal patterns, spending needs and access to banking services.