Credit to Nigeria’s private sector increased by 9.37 per cent, or N7.13 trillion, to N83.26 trillion in June 2026, compared with N76.13 trillion, in the corresponding period of last year, latest data from the Central Bank of Nigeria (CBN) shows.
New Telegraph’s analysis of the latest “Money and Credit statistics,” posted on the apex bank’s website on Wednesday, also indicates that credit to the private sector rose by 2.73 per cent, or N2.22 trillion, in June 2026 from N81.04 trillion in the preceding month.
Further analysis of the data shows that financial institutions’ total loans to the government surged by 84.81 per cent, or 18.37 trillion, to N40.03 trillion in June 2026 from N21.66 trillion in the corresponding period of last year.
However, month-on-month, the data shows that net credit to the government fell marginally by 0.85 per cent, or N344.75 billion in June 2026 compared with N40.38 trillion in the preceding month.
Analysts note that credit to the private sector credit maintained an upward trend in the last three months despite the CBN maintaining its monetary policy tightening stance during the period.
Specifically, members of the apex bank’s Monetary Policy Committee (MPC) voted to retain the benchmark interest rate- the Monetary Policy Rate (MPR) at 26.5percent at the Committee’s meeting held on May 20, 2026.
Meanwhile, the CBN’s latest “Money and Credit statistics,” indicates that Currency Outside Banks (COB) fell by 5.22 per cent, or N270.97 billion, to N4.92 trillion in June 2026 compared with N5.19 trillion in May 2026.
Furthermore, the data shows that Currency in Circulation also headed south, falling by 2.93 per cent, or N166.68 billion, to N5.52 trillion in June 2026 compared with N5.69 trillion in the preceding month.
