URBANEXPRESSLIVEURBANEXPRESSLIVEURBANEXPRESSLIVE
  • Home
  • Politics
    Politics
    “Followers who tell the truth, and leaders who listen to it, are an unbeatable combination.”— Warren Bennis
    Show More
    Top News
    No Cause For Optimism As Newly Acting CJN Is Sworn In, HURIWA Says, Give Reasons
    August 23, 2024
    Hike In Pump Price: Be Ready For Social Unrest, TUC Warns FG
    September 5, 2024
    Petrol Increase: Why Nigeria Can’t Depend On Dangote Refinery-Marketers
    September 17, 2024
    Latest News
    Tell Nigerians Where You’ve Been In Your Five Days’ Disappearance-ADC To Tinubu
    July 13, 2025
    Oto-Awori LCDA Chairmanship Election: Kazeem Azeez Wins Returned Elected
    July 13, 2025
    Odi-olowo/Ojuwoye LCDA-Jakande Wins, Returns As New LG Chair
    July 13, 2025
    Natasha’s Return To Senate: Senator Dickson Backs Verdicts, Says Court Decision Appropriate
    July 13, 2025
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
    • About Us
    • Contact us
    • Advertise
Search
  • Advertise
© 2024 Urbanexpresslive. All Rights Reserved.
Reading: How Nigeria’s Money Supply Increased By 65% To N107.1tn In August-CBN
Share
Notification Show More
Font ResizerAa
URBANEXPRESSLIVEURBANEXPRESSLIVE
Font ResizerAa
  • Home
  • Politics
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
Search
  • Home
  • Politics
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
    • About Us
    • Contact us
    • Advertise
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
URBANEXPRESSLIVE > web-Page > Business > How Nigeria’s Money Supply Increased By 65% To N107.1tn In August-CBN
BusinessDiscover

How Nigeria’s Money Supply Increased By 65% To N107.1tn In August-CBN

urbanexpresslive
Last updated: September 29, 2024 8:13 pm
urbanexpresslive
Share
1 Min Read
SHARE

Taiwo Popoola

Nigeria’s money supply, M2 increased by 65 percent on a year-on-year basis to N107.1 trillion in August 2024

This is according to the Central Bank of Nigeria’s recently released data.

This showed that M2 rose by 0.75 percent month-on-month from N106.3 trillion recorded in July 2024.

Also on a year-on-year basis, the N107.1 trillion rise in M2 represents an N65 percent increase from the N64.8 trillion recorded in a corresponding period last year.

Reacting to the rise in M2, the CBN Monetary Policy Committee in its 297th meeting held last week unanimously voted for a 50 basis point increase in the Monetary Policy Rate (MPR), raising it to 27.25 percent.

The interest rate hike was accompanied by an adjustment to the Cash Reserve Ratio (CRR) of Deposit Money Banks, which was hiked by 500 basis points to 50.00 percent, while Merchant Banks saw an increase of 200 basis points to 16 percent. This comes as the apex bank Retained other Monetary Policy Parameters  

Despite the rise in M2, CBN Governor, Olayemi Cardoso announced a plan to Inject Another N1.4 Trillion Into the Country’s Financial Sector to Boost Liquidity

You Might Also Like

How Police Arrested Herbalist, Two Others For Allegedly Poisoning Woman During Evil Spirit Deliverance

PDP Suffers Another Loss As Delta Governor, Oborevwori Dumps Party For AC

How Ogun Police Arrest Two Suspects For Vandalizing Govts Cables, Iron Rods

What Soludo Said Regarding The Time That Took Him Joining APGA In 2013

Let us Avoid More Deaths-UN Chief, Antonio Guterres Calls for Full Gaza Ceasefire

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article Osun APC To Nigerians: Give Tinubu More Time Says It’ll Soon Surmount its Challenges
Next Article Electoral Process In Nigeria deliberately Complicated To Enable Manipulation-Sen Ndume
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe
4.4kFollowersFollow
- Advertisement -
Ad imageAd image

Latest News

PhotoSpeak: Former President Buhari Finally Laid To Rest With Full Military Honours
Uncategorized July 15, 2025
An Account of Buhari’s Final Journey To Daura
Discover Urban & Rural Lifestyle July 15, 2025
Say Hello to Waystream: The New Live Audio Streaming Platform That Gets You Heard Without the Hassle 
Urban & Rural Lifestyle July 15, 2025
Transfer: Real Madrid Hints About Signing Konate As Man Utd Takes Decision On Tolisso
Urban Sports July 15, 2025
Executive Master of Transport Management
//

UrbanExpressNews is Nigeria Most Reliable Online News, With Quality Pedigree of Writers made available on the online space.

Download Our App

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

info@urbanexpresslive.com

 

Follow US
© 2024 Urbanexpresslive. All Rights Reserved.
Welcome Back!

Sign in to your account