Nigeria’s money supply continued its upward trend in May 2026, reaching N129.21 trillion as liquidity levels expanded across the economy despite the Central Bank of Nigeria maintaining a tight monetary policy stance.
The News Chronicle reports that fresh data from the CBN showed broad money supply rose by 3.38 per cent from N124.99 trillion recorded in April, while also posting a year on year increase from N119.20 trillion in May 2025.
The latest figures indicate that growth in both foreign and domestic assets played a major role in driving the increase. Net foreign assets climbed to N26.95 trillion during the month, while net domestic assets rose to N102.26 trillion, reflecting stronger asset accumulation within the financial system and continued expansion in local financial holdings.
Quasi money, which includes savings and fixed deposits, also increased significantly to N84.58 trillion, pointing to sustained liquidity in the banking sector. The development comes even as the apex bank retained its benchmark interest rate at 26.50 per cent in a bid to keep inflation under control and preserve economic stability.
Analysts say the continued growth in money supply will remain a key metric for policymakers as they seek to balance economic expansion, inflation management and foreign exchange market stability in the months ahead.
