The amount of cash held outside Nigeria's banking system declined to ₦4.92 trillion in June 2026, the lowest level recorded in seven months.

The latest Money and Credit Statistics released by the Central Bank of Nigeria show that cash held outside banks fell by ₦485.8 billion, or 8.98 percent, from ₦5.41 trillion in December 2025, indicating that more physical currency is returning to the banking system. Total currency in circulation dropped from ₦5.73 trillion in December 2025 to ₦5.52 trillion in June 2026.

The sharper decline in cash held outside banks suggests that more currency was deposited into commercial banks rather than permanently withdrawn from circulation. After a temporary increase in May, cash outside banks fell by ₦270.97 billion, or 5.22 percent, in June, marking the largest monthly decline during the period.

The trend points to a gradual increase in the use of the formal banking system, in line with the CBN's efforts to promote digital payments and reduce reliance on cash transactions.