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Money And Credit Statistics (Million Naira)

  Year 2001
Month October November December
Broad Money (M2) 1,309,696.60 1,324,715.10 1,315,869.10
-- Narrow Money (M1) 766,692.20 799,355.20 816,707.60
---- Currency Outside Banks 288,823.80 306,356.00 338,671.20
---- Demand Deposits 477,868.40 492,999.20 478,036.50
-- Quasi Money 543,004.40 525,359.90 499,161.50
Net Foreign Assets (NFA) 1,287,553.40 1,378,716.70 1,458,100.90
Net Domestic Assets(NDA)
-- Net Domestic Credit (NDC) 814,185.50 889,088.30 848,992.80
---- Credit to Government (Net) -9,852.30 45,327.90 -6,006.50
---- Memo: Credit to Govt. (Net) less FMA
---- Memo: Fed. and Mirror Accounts (FMA)
---- Credit to Private Sector (CPS) 824,037.80 843,760.40 842,986.30
--Other Assets Net
Reserve Money (Base Money) 484,818.30 508,603.40 545,881.00
--Currency in Circulation 348,057.40 361,941.50 403,506.00
--Banks Reserves 136,760.90 146,661.90 142,375.00
       
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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