Nigeria’s money supply rose to N133.25 trillion in June 2026, up from N129.21 trillion in May, even as the Central Bank of Nigeria (CBN) maintained its Monetary Policy Rate (MPR) at 26.5 per cent.
The latest figures released by the apex bank show that the country’s broad money supply increased by N4.04 trillion within one month, indicating that more money was available in the economy for spending and investment.
The growth was largely driven by a rise in domestic assets and quasi-money, which includes savings and fixed deposits. Quasi-money increased from N84.58 trillion in May to N88.54 trillion in June, while demand deposits also recorded a slight increase to N39.78 trillion.
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However, cash circulating outside the banking system declined from N5.19 trillion to N4.92 trillion, suggesting that more funds remained within the formal banking sector.
The CBN data also showed that net domestic assets rose to N106.73 trillion from N102.26 trillion, while net foreign assets fell slightly to N26.53 trillion from N26.95 trillion.
Economic analysts say the increase in money supply could make it more challenging for the CBN to keep inflation under control. The development comes shortly after the Monetary Policy Committee retained the benchmark interest rate at 26.5 per cent and left other policy measures unchanged in a bid to maintain price stability and support the economy.
