Nigeria's Money Supply Reaches N138.78 Trillion in July

In July 2026, Nigeria's broad money supply (M3) increased to N138.78 trillion, reflecting a 16% year-on-year rise from N119.89 trillion in July 2025, according to the Central Bank of Nigeria's latest monetary statistics. Month-on-month, M3 rose by N5.52 trillion, or 4.14%, from N133.25 trillion in June 2026.

The data indicates a steady increase in liquidity, with M3 growing from N123.95 trillion in January to N138.78 trillion in July. The increase in money supply is accompanied by a significant rise in net foreign assets, although net domestic credit decreased to N101.07 trillion from N106.73 trillion in June.

The Central Bank of Nigeria maintains a tight monetary policy stance, balancing inflation containment with economic growth concerns. Additionally, the Central Bank plans to offer N700 billion in Treasury Bills at its first auction for September 2026, following a cumulative allotment of N2.218 trillion in August against a combined offer of N1.4 trillion.