Home Business Bank Deposits: Figure Rise To N16.89tn in Three Months –CBN

Bank Deposits: Figure Rise To N16.89tn in Three Months –CBN

by Kunle Awosiyan
CBN

BANKS’ demand deposits rose by N1.1tn in three months to N16.89tn as of the end of March, figures obtained from the Central Bank of Nigeria revealed on Wednesday.

According to the CBN, the figure, which stood at N15.81tn as of the end of January, rose to N16.17tn as of the end of February.

The CBN also disclosed that currency in circulation fell by N42.43bn between January and March.

It defined 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.

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