The Central of Nigeria (CBN) has disclosed that total bank deposits in its coffers is now N14.6 trillion in September, about 17 percent above N12.5 trillion in August 2016.

 

The monthly unaudited financial results and operations of the CBN on Assets and Liabilities indicated that other deposits gained 14.3 percent from N7.89 trillion to N9 trillion while other liabilities dropped by two per cent to N2.95 trillion from N3 trillion.

 

Bankers’ deposits with CBN closed September 2016 at N3.78 trillion, 15.5 per cent above N3.28 trillion in August. Furthermore, the apex banking regulatory body said Federal & State Government deposits significantly rose by 32.6 per cent to N1.79 trillion from N1.35 trillion.

 

In all, the apex banking regulatory body said total Equity & Liabilities appreciated by 12 per cent from N17.7 trillion in August to N19.78 trillion in September 2016.

 

However, the CBN has said N1.83 trillion currency was in circulation for October. The amount of Naira in circulation according to CBN in October increased by 1.75 percent, above N1.79 trillion recorded in September 2016.

 

According to data collected by our correspondent, the currency in circulation early this year was N1.73 trillion but dropped by 0.78 percent to N1.7 trillion in February.

 

Currency in circulation according to CBN data stood at N1.86 trillion in March, the highest so far this year. In April, the figure fell by 2.6 percent to N1.76 trillion and closed May and June at N1.75 trillion and N1.68 trillion respectively.

 

Further investigation revealed that currency in circulation remained flat at N1.66 trillion and N1.68 trillion in July and August respectively.

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