Nigeria’s money supply (M²) fell by 0.8 percent month-on-month (MoM) to N123.4 trillion in January 2025 from N124.4 trillion in December 2025, indicating low liquidity in the banking system despite a decline in interest rate.
Central Bank of Nigeria (CBN) Open Market Operations (OMO) details for January 2026 showed that interest rate on OMO declined by 2.2 percentage points MoM to 17.2 percent as at January 30th 2026 from 19.4 percent as at December 2025.
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Data from the CBN’s Money and Credit Statistics for January 2026 released yesterday showed that all M² components declined during the period except narrow money and demand deposits.
Quasi money (highly liquid, non-cash assets that can be quickly converted into cash) fell by 1.2 percent to N81 trillion in January 2026 from N82 trillion in December 2025.Read The; Complete Original.