Nigeria’s money supply rises to N133.25tn amid tight policy
Nigeria’s broad money supply has increased, reaching N133.25tn in June 2026, despite the Central Bank of Nigeria’s efforts to maintain a tight monetary policy. The data, released by the CBN on Wednesday, highlights a month-on-month rise in liquidity, largely driven by higher domestic assets and growth in quasi-money. Quasi-money and demand deposits both saw increases, while currency outside the banking system declined. Analysts caution that the continued expansion in money supply could challenge the CBN’s efforts to control inflation.
TLDR
- Broad money supply climbed to N133.25tn in June 2026, up from N129.21tn in May.
- The Central Bank of Nigeria kept the benchmark Monetary Policy Rate at 26.5 per cent.
- Quasi-money increased to N88.54tn from N84.58tn, while demand deposits rose to N39.78tn from N39.43tn.
- Currency held outside banks dropped to N4.92tn from N5.19tn, indicating more cash remained within the banking system.
- Net domestic assets rose to N106.73tn in June 2026, while net foreign assets fell to N26.53tn.
