Nigeria’s money supply fell to a four-month low in January as the Central Bank of Nigeria (CBN) intensified aggressive liquidity mop-ups across the banking system, underscoring the scale of monetary tightening deployed to curb inflation and stabilise the naira.
Data released by the CBN showed that broad money supply (M3) declined by 0.84 percent month-on-month to N123.36 trillion in January 2026 from N124.41 trillion in December 2025. The decline reflects a sweeping liquidity sterilisation drive that saw the apex bank withdraw more than N13
