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.
A demand deposit account offers access to depositors’ money without requiring advance notice, by allowing the depositor to withdraw money on demand and as needed.
The CBN also disclosed that currency in circulation fell by N42.43bn between January and March
