The latest figure from the Central Bank of Nigeria has revealed that the currency in circulation has dropped by 52.5 billion naira from 2.35 trillion naira at the end of May to 2.29 trillion naira in June.

Recent figures showed that there was a steady rise in cash in circulation during the lockdown introduced in some states to contain the COVID-19 pandemic in the country.

The CBN stated that it employed the “accounting, statistical withdrawals and deposits approach” to compute the currency in circulation in Nigeria.