Nigeria's Money Supply Hits N139.38 Trillion in August 2026

As of August 2026, Nigeria's broad money supply (M3) reached an all-time high of N139.38 trillion, marking a 12.4% Year till Date increase, despite the Central Bank of Nigeria (CBN)'s ongoing monetary tightening aimed at controlling inflation and stabilizing the Naira. Year-on-year, M3 increased by 16.5%, up from N119.69 trillion in August 2025.

The CBN maintained a tight monetary policy, with the Monetary Policy Rate (MPR) held at 26.50% during its July 2026 meeting, later cut to 23% to address inflation. Month-on-month, M3 rose by 0.43% from N138.78 trillion in July 2026.

The CBN withdrew N4.72 trillion from the financial system through Open Market Operations (OMO) auctions on August 26 and 27, 2026, to reduce liquidity and combat rising consumer prices. In August 2026, net domestic assets surged to N101.99 trillion, a 31% YoY increase, while net foreign assets fell to N37.39 trillion, a 10.1% YoY drop.