Nigeria, June 24 -- The News Chronicle reports that fresh data from the Central Bank of Nigeria revealed that more than 91 per cent of the nation's currency in circulation is currently outside commercial banks, highlighting the continued dominance of physical cash in daily transactions.

The latest figure represents an increase of N109.34 billion from April and more than N559 billion compared to the same period last year. Total currency in circulation also rose to N5.69 trillion, reflecting sustained demand for cash across households, small businesses, transport operators and informal markets.

The trend comes even as regulators intensify efforts to expand electronic payments through mobile banking, fintech platforms, agent networks and ...