Credit to Private Sector Rises in Nov. 2020; MPC Decides on Policy Rate in the New Week

Credit: globalreporting.org

January 22, 2021/Cowry Asset Report

In the just concluded week, data released from the Central Bank of Nigeria (CBN) depository corporations survey showed a 5.21% year to date (YTD) significant rise in Broad Money Supply (M3 money) to N36.59 trillion in November 2020.

This resulted from a 34.78% increase in Net Foreign Assets (NFA) to N7.82 trillion and a 0.72% increase in Net Domestic Asset (NDA) to N28.76 trillion. We witnessed a 10.90% y-t-d rise in Net Domestic Credit (NDC) to N40.12 trillion in November 2020 despite the marginal decline in Net Domestic Asset.

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