Currency in circulation  jumps to  N5.52trn  in September 2026, says CBN

The Central Bank of Nigeria’s (CBN) has revealed that currency in circulation jumped to N5.52 trillion in September 2026, about  1.5 per cent increase over N5.44 trillion reported in August 2026.  

The latest report by CBN revealed that Nigeria’s broad money supply rose to N146.6 trillion in September 2026, increasing by approximately N7.51 trillion from N139.09 trillion in August 2026.

The increase represents a monthly growth of about 5.4per cent, extending the rise in money supply recorded over much of 2026.

The expansion comes as the CBN balances efforts to contain inflation with measures to support economic activity and maintain macroeconomic stability.

CBN data showed that broad money supply, measured as M3, rose from N123.95 trillion in January to N146.6 trillion in September 2026.

The figures indicate a substantial increase over the first nine months of the year.

Money supply stood at N125.19 trillion in April and N129.54 trillion in May. It rose from N133.27 trillion in June to N139.1 trillion in July.

Money supply stood at N139.09 trillion in August before reaching N146.6 trillion in September.

Narrow money, which includes currency and highly liquid deposits, rose from N43.11 trillion in August to N44.05 trillion in September.

Currency outside banks increased from N4.87 trillion to N4.92 trillion over the same period.

Broad money captures funds available across the economy, including currency outside banks, demand deposits, savings and time deposits, as well as foreign currency deposits.

Its expansion reflects an increase in the stock of money within the financial system, although the data alone do not establish how much of the increase translated into consumer spending or inflationary pressure.

The increase in money supply comes after the CBN reduced its benchmark interest rate at its 307th Monetary Policy Committee (MPC) meeting in Abuja.

The committee cut the Monetary Policy Rate (MPR) by 350 basis points to 23per cent, the largest reduction in the benchmark rate since December 2006.

The MPC also adjusted the corridor around the MPR to +50 basis points and -300 basis points, while retaining the Cash Reserve Requirement (CRR) for commercial banks at 45per cent.