“₦4.92tn Remained Outside The Banking System In September” — CBN Pushes To Cut Cash Holdings Below 40% By 2028

Cash held outside Nigeria’s banking system increased by ₦48.7 billion to ₦4.92 trillion in September 2026, despite ongoing efforts by the Central Bank of Nigeria to deepen digital payments and reduce dependence on physical cash.Latest CBN data showed that currency outside banks rose from ₦4.87 trillion in August to ₦4.92 trillion in September, representing a month-on-month increase of about one per cent.