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In the just concluded week, Central Bank of Nigeria (CBN) released its depository corporations survey which showed a 2.38% month-on-month (m-o-m) rise in Broad Money Supply (M3 money) to N40.01 trillion in May 2021. This resulted from a 1.11% increase in Net Domestic Assets (NDA) to N32.66 trillion and a 8.47% rise in Net Foreign Assets (NFA) to N7.36 trillion. On domestic asset creation, the increase in NDA was chiefly driven by a 1.46 m-o-m increase in Net Domestic Credit (NDC) to N44.71 trillion. Further breakdown of the NDC showed a 2.87% m-o-m increase in Credit to the Government to N12.51 trillion and a 0.93% rise in Credit to the Private sector to N32.19 trillion in the review period – faster growth in credit to government was partly due to the jump in stop rate as investors got relatively attractive returns on investment; albeit, it was negative real returns as inflation stood well above stop rate. ....
By Obinna Chima Banking sector credit to the private sector increased year-on-year by N382 billion to N31.823 trillion as of April, up from the N31.440 trillion it was as at the end of March. The data were compiled from the latest Central Bank of Nigeria (CBN) money and credit statistics for April 2021, posted on the regulator’s website. The development could be attributed to the aggressive development finance interventions by the central bank since the outbreak of the COVID-19 pandemic. Also, net credit to the government increased to N12.156 trillion year-on-year, as at the end of April, higher than the N11.994 trillion it was at the end of the previous month. ....
INFLATION: Money supply rises 22.5% to N38trn vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
In the just concluded week, data released from the Central Bank of Nigeria (CBN) depository corporations survey showed a5.21% year to date(YTD) significant risein Broad Money Supply (M3 money) to N36.59trillion in Novemeber 2020. This resulted from a 34.78% increase in Net Foreign Assets (NFA)to N7.82trillionand a0.72% increase in Net Domestic Asset (NDA)to N28.76trillion. We witnessed a 10.90% y-t-d rise in Net Domestic Credit (NDC) to N40.12 trillion in November 2020despite the marginal decline in Net Domestic Asset.Further breakdown of the NDC showed a 13.73% y-t-d increase in Credit to the Government to N10.79trillion; also, Credit to the Private sector roseby9.89% to N29.31trillion. ....