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Credit To Private Sector Falls Marginally To N23.083tn - Business - Nairaland

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Credit To Private Sector Falls Marginally To N23.083tn by mrakeli62: 6:12am On Jan 10
Banking sector credit to the private sector dropped slightly year-on-year by N55.7 billion to N23.083 trillion as of November 2018, from the N23.138 trillion it was at the end of October, 2018.

Also, net credit to government fell to N2.980 trillion as at the end of November, lower than the N3.756 trillion it was at the end of October 2018.


This was gathered from the latest Central Bank of Nigeria (CBN) money and credit statistics for November 2018.

Also, narrow money supply (M1), which includes all physical monies such as coins and currency along with demand deposits and other assets held by the central bank dropped to N10.689 trillion at the end of the month under review, as against the N11.241 trillion recorded the previous month.

But currency-in-circulation increased in the review period to N2.100 trillion, compared with the N1.956 trillion it was the previous month.

The data showed that currency outside banks increased to N1.712 trillion as of the review month, up from the N1.602 trillion it was the previous month.

However, while Banks Reserves dropped to N4.306 trillion from the N5.028 trillion it was at the end of October 2018, Quasi Money, which are highly liquid assets other than cash, that can be quickly converted, stood at N14.775 trillion as at the review month, from N14.800 trillion.

In addition, demand deposits, which are funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution fell marginally from N9.640 trillion the previous month, to N8.978 trillion in the review month.

The credit statistics also revealed that CBN bills held by money holding sectors improved to N6.333 trillion, from N5.984 trillion the previous month. As part of efforts to encourage lending to the private sector, the CBN had introduced the real sector support facility (RSSF). The facility was expected to boost investment and provide low cost funding for businesses.

The activities covered under the scheme are Greenfield (new) and expansion (Brownfield) projects in manufacturing, agriculture and other related sectors approved by the CBN.

In his outlook for 2019, CBN Governor, Mr. Godwin Emefiele, had predicted that monetary policy stance would remain judicious, research driven, adequate and supportive of the real economy subject to underlying fundamentals.

He pointed out that the current tight monetary policy stance was expected to continue in the near-term, especially in view of rising inflation expectations and exchange market pressures.

“Though we will act to appropriately adjust the policy rate in line with unfolding conditions and outlooks, the CBN will continue to ensure that the policy interest rate is delicately set to balance the objectives of price stability with output stabilisation.

“Though the CBN has so far managed to maintain exchange rate stability, the current capital flow reversals from emerging markets are expected to continue to exert considerable pressure on market rates.”

https://www.akelicious.net/2019/01/credit-to-private-sector-falls.html

Re: Credit To Private Sector Falls Marginally To N23.083tn by princeAbjid(m): 7:41am On Jan 10
FTC........That one no concern me. I pray for everyone this morning, na credit alert go dey fall for our accounts in Jesus name �����

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Re: Credit To Private Sector Falls Marginally To N23.083tn by chibike69: 7:42am On Jan 10
grin
Re: Credit To Private Sector Falls Marginally To N23.083tn by Flexherbal(m): 7:43am On Jan 10

In his outlook for 2019, CBN Governor, Mr. Godwin Emefiele, had predicted that monetary policy stance would remain judicious, research driven, adequate and supportive of the real economy subject to underlying fundamentals

Re: Credit To Private Sector Falls Marginally To N23.083tn by Codes151(m): 7:43am On Jan 10
Funny news from a funny blog
Re: Credit To Private Sector Falls Marginally To N23.083tn by seunfly: 7:44am On Jan 10
Ok
Re: Credit To Private Sector Falls Marginally To N23.083tn by GlorifiedTunde(m): 7:45am On Jan 10
mrakeli62:



But currency-in-circulation increased in the review period to N2.100 trillion, compared with the N1.956 trillion it was the previous month.

The data showed that currency outside banks increased to N1.712 trillion as of the review month, up from the N1.602 trillion it was the previous month.



https://www.akelicious.net/2019/01/credit-to-private-sector-falls.html


More money in circulation due to the upcoming elections
Re: Credit To Private Sector Falls Marginally To N23.083tn by PresidentAtiku: 7:46am On Jan 10
Buharinomics

Economic system led by fraudsters, supported by dullards with recession as resultant effect

cheesy cheesy cheesy
Re: Credit To Private Sector Falls Marginally To N23.083tn by Pojomojo: 7:47am On Jan 10
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Re: Credit To Private Sector Falls Marginally To N23.083tn by Latidoh1: 7:57am On Jan 10
Chai.
Re: Credit To Private Sector Falls Marginally To N23.083tn by israelmao(m): 8:24am On Jan 10
That shows the abysmal performance of this current administration in economy.

NOTICE
You can block me if you like because telling the truth seems to be bitter on this platform.

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Re: Credit To Private Sector Falls Marginally To N23.083tn by SalamRushdie: 8:30am On Jan 10
everything is falling under the dullard !!!!
Re: Credit To Private Sector Falls Marginally To N23.083tn by GetCofOProperty: 9:06pm On Jan 10
how else can we grow the Nigerian economy is the private sectors performs so woefully... The diversification of the economy is what we though should be working by now...

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