{
  "id": 15904556,
  "title": "Nigeria’s money supply swells by N7.5 trillion in one month, hits N146.6 trillion",
  "url": "https://urgent.news/2026/10/21/nigerias-money-supply-swells-by-n7-5-trillion-in-one-month-hits-n146",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T14:38:15.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/21/nigerias-money-supply-swells-by-n7-5-trillion-in-one-month-hits-n146-6-trillion/"
  },
  "original_language": "en",
  "account": "Nigeria's broad money supply surged by approximately N7.5 trillion in September 2026, reaching N146.6 trillion, according to data released by the Central Bank of Nigeria (CBN). This represents a monthly growth of around 5.4%, continuing the upward trend in money supply observed throughout 2026. The Central Bank's data reveals that the broad money supply, denoted as M3, expanded from N123.95 trillion in January to reach N146.6 trillion by September of the same year. This substantial increase over the first nine months of the year indicates a significant rise in the money stock within the financial system. However, the data alone does not clarify how much of this growth translated into consumer spending or inflationary pressure. The rise in money supply coincides with the CBN's decision to lower its benchmark interest rate by 350 basis points to 23%, the most significant reduction in the policy rate since December 2006. The Monetary Policy Committee (MPC) also adjusted the corridor around the MPR to a range of +50 basis points and -300 basis points, while maintaining the Cash Reserve Requirement (CRR) for commercial banks at 45%. Non-Treasury Single Account (TSA) public-sector deposits and merchant banks' CRR remained unchanged at 16%. The policy adjustment followed a period of tighter monetary conditions aimed at managing inflation. The rise in money supply and the subsequent rate reduction illustrate the CBN's shifting monetary policy approach.",
  "summary": "Nigeria’s broad money supply rose to N146.6 trillion in September 2026, increasing by approximately N7.51 trillion from N139.09 trillion in August. The post Nigeria’s money supply swells by N7.5 trillion in one month, hits N146.6 trillion appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}