Money Supply in Nigeria Hits Record High

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Reports say Nigeria’s Money Supply is now at a record high of N50.5 trillion as of October 2022.

According to the Central Bank of Nigeria, this is the highest level ever reported for one of the most important monetary-related statistics.

It added that the increase in money supply was N1.26 trillion in October alone, the third highest month after April and May this year.

The amount of money supply in the country has risen by N6.1 trillion this year alone having closed at N44.4 trillion at the end of 2021.

Written by: Helen Obih

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