Macroeconomic Report & Economic Updates

January 27, 2017

Nigeria Economic Update (Issue 3)

Provisional Monetary
statistics by the CBN show an increase in currency in circulation a portion
of overall money supply. Specifically, currency in circulation rose
(Month-on-Month) by 14.2 percent to N2.2 million in December 2016 
the highest Month-on-Month increase recorded for the year 2016. The rise in currency-
outside-bank may be attributed to the growing demand for cash balances for
spending activities during the festive period. This development would largely compound
the liquidity problem associated with TSA implementation and ongoing CBN
monetary tightening as deposit money banks might be cash-strapped. Going
forward, efforts should be geared towards intensifying initiatives that promote
a cashless economy that encourages cashless transactions.

Download Label
March 13, 2018 - 4:00 am
application/pdf
371.67 kB
v.1.7 (stable)

Related

 

Nigeria Economic Update (Issue 28)

Latest monthly economic report by the CBN reveals a decline in foreign exchange flows through the CBN. Foreign exchange inflow through the apex bank, dropped Month-on-Month by 21 percent to $2.3 billion in May 2017, occasioned by the fall in from Oil and Non-oil sources during the month.

Issues In Fiscal Policy Management Under The Economic Reforms

This paper was produced as part of a larger project which was jointly financed by the UKDepartment for International Development in Nigeria (through its Policy and Knowledge facility)and the Research Committee of the World Bank.