FG’s borrowings push money supply to record ₦108.96 trillion – CBN

Nigeria’s Broad Money Supply (M2) jumped by 51% year-on-year, reaching ₦108.96 trillion in November 2024, largely driven by the Federal Government’s borrowings from the private sector, according to the Central Bank of Nigeria (CBN).This marked a significant rise from ₦72.03 trillion recorded in November 2023. The CBN’s Money and Credit Statistics report released on Monday, December 30, highlighted a six-month upward trend in M2, which momentarily declined in October