Nigeria, Oct. 30 -- The amount of cash held by Nigerians outside the banking system climbed to N4.47 trillion in September 2025, even as the country's overall money supply declined, according to new data released by the Central Bank of Nigeria (CBN).

The figures reveal that broad money supply (M3) slipped by N1.91 trillion to N117.78 trillion in September, marking a 1.6 percent month-on-month decrease from August's N119.69 trillion.



Despite this contraction, cash outside banks rose by N14.7 billion, or 0.3 percent, within the same period. On a yearly scale, the trend becomes more striking - while total money supply increased by 7.6 percent from N109.41 trillion in September 2024, cash held outside banks grew by 11.2 percent, suggesti...