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The Central Bank of Nigeria(CBN),has said that large and increasing proportion of the Nigerian currency outside the commercial banking system was held by the general public who hoard a lot of the new banknotes.
Besides,the apex bank said currency in circulation in the country dropped by N50bn to N2.78tn in February from N2.83tn as of January
It added that the currency in circulation dropped by N70bn in January from N2.9tn as of December 2020.
According to the CBN, currency in circulation rose from N2.5tn as of the end of October to N2.66tn in November.
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