Nigeria's broad money supply hits N139.38tn in August 2026, up 16.4% YoY
Nigeria’s broad money supply (M3) climbed to N139.38 trillion in August 2026, a 16.4% increase from N119.69 trillion in August 2025 and a 0.4% rise from N138.78 trillion in July, according to data published on the Central Bank of Nigeria’s website. The expansion occurred even as the CBN kept its Monetary Policy Rate steady at 26.50% at its July 2026 MPC meeting, maintaining a tight monetary stance.
The rise in M3 reflects a growth in net domestic assets, which increased to N101.99 trillion from N101.07 trillion in July, while net foreign assets declined to N37.39 trillion from N37.71 trillion over the same period. Broad money includes currency in circulation, demand and savings deposits, time deposits, and foreign currency deposits held by banks.
Analysts note that the additional naira liquidity could boost credit availability for businesses and consumers, but may also exert upward pressure on inflation if output does not keep pace. The CBN’s next MPC meeting is scheduled for next week in Abuja, and gross foreign exchange reserves have risen to $54.61 billion as of September 14, 2026.
With more money circulating but borrowing costs remaining high, will you find it easier to access loans for personal or business needs, or will you prefer to hold cash or invest in assets that hedge against inflation?