Nigeria’s broad money supply rose to N133.25 trillion in June 2026 from N129.21 trillion in May, even as the Central Bank of Nigeria maintained its benchmark interest rate at 26.5 per cent.

The increase was disclosed in the CBN’s latest money and credit statistics released on Wednesday.

Broad money, or M3, comprises currency in circulation outside banks, demand deposits, savings and time deposits, as well as foreign currency deposits.

The latest data showed that money supply rose by N4.04 trillion month-on-month and increased from N117.25 trillion recorded in June 2025, as net domestic assets and quasi-money expanded during the period.

The apex bank data also showed that M2, which comprises narrow money (M1), quasi-money, demand deposits and currency outside banks, rose to N133.24 trillion in June from N129.20 trillion in May.

The data further shows that quasi-money rose to N88.54 trillion from N84.58 trillion.

Demand deposits increased to N39.78 trillion from N39.43 trillion, the apex bank noted.

Currency outside banks fell to N4.92 trillion from N5.19 trillion.

The figures indicate that the expansion in money supply was driven largely by growth in quasi-money and domestic assets during the month.

The CBN data showed that net domestic assets increased during the period, while net foreign assets declined slightly.

Net domestic assets increased by 4.37 per cent, rising from N102.26 trillion in May to N106.73 trillion in June.

Net foreign assets declined by 1.56 per cent, falling from N26.95 trillion in May to N26.53 trillion in June.

Broad money supply (M3) expanded by 3.11 per cent month-on-month, increasing by N4.04 trillion compared with the previous month.

On a year-on-year basis, M3 grew by 13.59 per cent, rising by approximately N16.00 trillion compared with June 2025.

The increase in net foreign assets reflects stronger external asset accumulation within the banking system.

The rise in foreign assets also underscores the broad-based drivers behind the increase in money supply.

The growth in money supply comes as the CBN continues to balance liquidity management with efforts to moderate inflation and preserve macroeconomic stability.

The latest money supply figures come against the backdrop of the CBN’s decision to retain the Monetary Policy Rate at 26.50 per cent.

At its 305th Monetary Policy Committee meeting held on May 19 and 20, 2026, the apex bank unanimously voted to maintain the benchmark interest rate at 26.50 per cent.

The CBN also retained other key monetary policy parameters as part of efforts to sustain disinflation and preserve macroeconomic stability.

Earlier in September 2025, the Monetary Policy Committee (MPC) reduced the Monetary Policy Rate (MPR) by 50 basis points to 27 per cent, aiming to support economic activity amid easing inflationary pressures.

In November 2025, the MPC maintained the MPR at 27 per cent, adopting a cautious stance to balance price stability with growth support.