Nigeria, Oct. 22 -- Cash outside Nigeria's banking system grew by N48.7 billion to N4.92 trillion in September 2026 with the monthly increase continuing despite efforts by the Central Bank of Nigeria (CBN) to promote electronic transactions.

The latest data from the CBN showed that cash outside banks grew from N4.87 trillion in August to a N4.92 trillion compared to N4.47 trillion recorded in September 2025 a year on year increase of about 10.3%.

The News Chronicle reports that cash outside banks exceeded N5 trillion in several months during the first half of 2026 peaking at N5.41 trillion in December 2025 before dwindling down in subsequent months.

The latest increase comes as CBN progresses its Nigeria Payment System Vision 2028 whi...