The total amount of naira in circulation dropped to N5tn in March 2025, down from N5.04tn in February and further from N5.24tn in January, according to the latest money and credit statistics published by the Central Bank of Nigeria (CBN).
Currency in circulation refers to physical cash used in daily transactions, investments, and savings across the economy. A decline in this figure often aligns with efforts to curb inflation and maintain economic stability.
Alongside the drop in naira circulation, the CBN’s bank reserves rose to N28.52bn in March, compared to N27.57bn in February and N27.43bn in January 2025. These reserves, held by the central and commercial banks, are key to ensuring liquidity and overall financial sector stability.
Meanwhile, special intervention reserves remained steady at N284.36m throughout the first quarter of 2025
In March 2024, currency in circulation had risen to N3.87tn, up from N3.69tn in February and N3.65tn in January. Currency outside banks also grew steadily over the same period, increasing from N3.28tn in January 2024 to N3.63tn in March 2024.
Additionally, Nigeria’s money supply experienced its first decline in 2025, falling to N110.32tn in February from N110.94tn in January—a 0.56% month-on-month drop. This follows ongoing efforts by the CBN to tighten monetary policy and adjust foreign exchange frameworks to control liquidity and ensure economic stability.
