As inflation continues to rage in the economy of Nigeria, the amount of currency in circulation is steadily rising.
Though living standards have fallen, the Central Bank of Nigeria (CBN) believes cash in circulation is much.
This currency in circulation has been attributed to be part of the reason inflation is growing.
But where did all the money come from.
A member of the Monetary Policy Committee, Muhammad Abdullahi, said the CBN knows there is too much money outside the bank vault.
In his statement, he recognised this as one of the factors driving the country’s inflation.
