Quantity of currency in circulation in the country dropped by N4.59bn to N3.24 trillion in March from N3.25 trillion in February 2022, IgbereTV reports
The Central Bank of Nigeria (CBN) disclosed this in its updated Money and Credit Statistics on its website on Tuesday.
In January, the apex bank reported that there was N3.29 trillion in Circulation.
The CBN defined the currency in Circulation as currency outside the vaults of the Central Bank; that is, all legal tender currency in the hands of the general public and in the vaults of the Deposit Money Banks.
In recent months CBN had embarked on several intervention policies which pushed currency in Circulation to its highest level in history in December 2021.
However, in the following three consecutive months, it has recorded a decline, dropping by N37.13 billion in January and N37.84 billion in February 2022.
