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Money And Credit Statistics (Million Naira)

  Year 2016
Month January February March
Broad Money (M2) 19,687,152.52 20,489,166.72 20,470,436.00
-- Narrow Money (M1) 8,247,317.05 9,059,578.34 9,040,817.68
---- Currency Outside Banks 1,377,781.28 1,377,483.11 1,441,365.03
---- Demand Deposits 6,869,535.76 7,682,095.23 7,599,452.65
-- Quasi Money 11,439,835.47 11,429,588.38 11,429,618.32
Net Foreign Assets (NFA) 5,392,220.38 5,471,351.78 5,551,714.27
Net Domestic Assets(NDA) 14,294,932.13 15,017,814.94 14,918,721.73
-- Net Domestic Credit (NDC) 22,222,741.93 22,414,322.75 22,664,815.74
---- Credit to Government (Net) 3,337,518.31 3,424,029.62 3,782,578.01
---- Memo: Credit to Govt. (Net) less FMA 4,734,604.96 4,807,604.55 4,991,246.39
---- Memo: Fed. and Mirror Accounts (FMA) -1,397,086.65 -1,383,574.93 -1,208,668.38
---- Credit to Private Sector (CPS) 18,885,223.62 18,990,293.13 18,882,237.73
--Other Assets Net -7,927,809.80 -7,396,507.81 -7,746,094.02
Reserve Money (Base Money) 5,751,089.78 5,095,380.23 5,758,634.07
--Currency in Circulation 1,725,128.38 1,711,623.51 1,811,090.48
--Banks Reserves 4,025,961.39 3,383,756.72 3,947,543.59
       
Data from December 2014 are provisional.
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Facts : 1/16/2006
The Cowry:The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.
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