Close Menu
    Facebook X (Twitter) Instagram YouTube
    Advertise with us Monday, July 7
    Facebook X (Twitter) Instagram
    Platform TimesPlatform Times
    VIDEOS
    • Home
    • News
    • Metro
    • Politics
    • Business
    • Education
    • Health
    • Special Reports
    • Entertainment
    • Sports
    • Interview
    Platform TimesPlatform Times
    • Home
    • News
    • Metro
    • Politics
    • Business
    • Education
    • Health
    • Special Reports
    • Entertainment
    • Sports
    • Interview
    Home»News

    Loan to Private Sector surges to N75.48tn as money supply hits N106.3tn – CBN

    By August 29, 2024 News No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Loan to the Private Sector in Nigeria increased by 33.69 percent to N75.48 trillion as the Money Supply in the country rose to an all-time high of N106.3 trillion in July 2024 despite the Central Bank of Nigeria’s recent monetary policy measures.

    This is according to recent data from CBN.

    The figure for loans to Private in July represents a significant increase from the
    N56.46 trillion in the corresponding period of June 2023.

    Similarly, on a month-on-month basis, loans to the private sector increased by 3.13 percent from N73.19 trillion in June 2024.




    This comes as the country’s money Supply recorded a 62.66 percent increase in July compared to N65.33 trillion recorded in the corresponding period of July 2023.

    CBN’s data also showed that currency in circulation saw an increase to N4.053 trillion, a 56.18 percent rise compared to the figure recorded in the same period last year.

    The country’s CIC increased by 0.12 percent on a month-on-month basis in July to N4.053 trillion compared to N4.048 recorded in June.

    The development comes amid the CBN tightening of Monetary policies.

    The apex bank in its last Monetary Policy Committee meeting in July raised the interest rate to 26.75 percent amid an effort to tackle inflation which stood at 33.40 percent.

    Loan to Private Sector surges to N75.48tn as money supply hits N106.3tn – CBN

    Pelican Valley'
    Cattle Bizness Network'
    The Rehla'
    Pelican Valley'

    Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com

    We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE

    Pelican Valley

      Keep Reading

      NNPC Slashes Petrol Price To N910 In Abuja Amid Global Oil Dip

      Tinubu To Military: Crush Terrorists Without Hesitation — You Have My Full Support

      NDLEA Uncovers Lagos-Based Family Drug Cartel, Arrests Businessman, Wife, Daughters, Other

      JAMB Uncovers Massive Fake Admission Syndicate, Flags Over 17,000 Candidates, Five Arrested

      Gunmen Kill Policeman, Abduct ASP In Deadly Attack On Patrol Team In Imo

      Daniel Backs Tinubu’s Reforms, Reveals Merger Of Remo, Ijebu State Creation Bids

      Add A Comment

      Comments are closed.

      The Rehla
      The Rehla
      The Rehla
      Pelican Valley
      Pelican Valley
      Pelican Valley
      Advertisement
      Advertisement
      Advertisement
      Advertisement
      Cattle Bizness Network
      Cattle Bizness Network
      Cattle Bizness Network
      Pelican Valley
      Pelican Valley
      Pelican Valley

      Platform Times is a trailblazing news website that empowers grassroots communities across Africa by delivering the latest news through engaging multimedia content. By leveraging photos, text, and videos, the site inspires concerned citizens and activists worldwide to take action against critical issues, including corruption, poverty, environmental degradation, and democratic disregard.

      We're social. Connect with us:

      Facebook X (Twitter) Instagram Pinterest YouTube
      • About Us
      • Advertise
      • Contact Us
      • Disclaimer
      • Download Platform Times app

      Subscribe to Updates

      Get the latest update news

      Facebook X (Twitter) Instagram Pinterest
      • About Us
      • Advertise
      • Contact Us
      • Disclaimer
      • Download Platform Times app
      © 2025, All Rights Reserved | Platform Times Newspaper | Powered By CyberWarrior

      Type above and press Enter to search. Press Esc to cancel.