Key Insight
Currency in circulation dropped sharply in early 2023 following the CBN Naira redesign policy requiring old notes to be returned to banks. It recovered as courts challenged the policy. Long-term trend shows consistent growth from ₦1.4T in 2002 to over ₦4T by 2024.
Currency in Circulation 2002–2024 (NGN Millions)
Currency in circulation dropped sharply after the January 2023 Naira redesign policy, then recovered as courts intervened — but has grown steadily overall since 2002.
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Source: CBN Annual Report · Currency in Circulation (NGN Millions)
Monthly Data Table
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