|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,160,876 members, 4,707,753 topics. Date: Sunday, 20 January 2019 at 02:26 PM
|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In addition, demand deposits, which are funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution fell marginally from N9.640 trillion the previous month, to N8.978 trillion in the review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.”
|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 �����
|Re: Credit To Private Sector Falls Marginally To N23.083tn by chibike69: 7:42am On Jan 10|
|Re: Credit To Private Sector Falls Marginally To N23.083tn by Flexherbal(m): 7:43am On Jan 10|
|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|
|Re: Credit To Private Sector Falls Marginally To N23.083tn by GlorifiedTunde(m): 7:45am On Jan 10|
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|
Economic system led by fraudsters, supported by dullards with recession as resultant effect
|Re: Credit To Private Sector Falls Marginally To N23.083tn by Pojomojo: 7:47am On Jan 10|
If you're under 60 years of age
If you're past your ovulation date(for those that know)
If you live in Lagos
If you're a woman
Please head to LUTH (Lagos state University Teaching Hospital)
There's free screening for cervical cancer going on now
Iron is stronger than wood, but when you put both in water, iron will sink while wood will float. Physical strength has limitations. The weapons of our warfare are not physically strong. But they are spiritually powerful. Wisdom will save you better than strength
Treat friends like water. Water may quarrel with you, but you dont quarrel with water because you need it. Friends may quarrel with you, but try not to quarrel with friends because you need them. Even if you‘re right, allow them win arguments and save the friendship.
A very beautiful shirt that does not fit you wont make you as comfortable as a plain shirt that is tailored to your body. So when marrying, pay attention to physical beauty, but pay much more attention to compatibility, or you may have an uncomfortable married life #RenosNuggets
|Re: Credit To Private Sector Falls Marginally To N23.083tn by Latidoh1: 7:57am On Jan 10|
|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.
You can block me if you like because telling the truth seems to be bitter on this platform.
|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...
Do You Desire A Very Good Property (Landed property or to buy a house.apartment) for acquisition or as a form of Investment That Guarantee High Return... Check our signature below on how to get on PROMO affordable titled lands & properties in good location with Rest of mind. There are good properties in choice locations that boast of a huge return on investment. Don't miss the current promos Visit our Ikeja Office (Off Medical Road) or OUR ISLAND OFFICE ON LEKKI-EPE EXPRESSWAY (AWOYAYA).
Call/WhatsApp +234(0)8027390046. Check our signature here below And Click the WhatsApp link to reach out to us. Or if you want to know how you can be a part of the business part of Real Estate/Property Business... Join this link together erasing every space and click to chat us ht tp s: / / bit. ly/2ASCSgC
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2019 Oluwaseun Osewa. All rights reserved. See How To Advertise. 117