CBN begin plan to mop up N3.23tr in circulation to tackle inflation

Becase of rising inflation, The Central Bank of Nigeria (CBN) in the next 100 days plan to mop up N3.23 trillion from circulation.

During a special briefing in Abuja, CBN Governor Godwin Emefiele made the announcement.

He said that of the N3.23 trillion cash in circulation as of September 2022, N2.73 trillion is outside the vault of banks.

Emefiele said both the funds within and outside the banking system will be mopped up from today till January 31, 2023 to the CBN’s vault to control rising inflation.

(Nation)