More money in circulation but FG entered new year with deficit – CBN report

The report published by the Central Bank of Nigeria (CBN) on Monday revealed that, as at the last check, N2.2 trillion were outside banks. Compared to the previous quarter, this shows a 9.9% increase in the total money in circulation. However, due to unmet revenue expectation, the Federal Government recorded deficit in its earnings and expenditure coming into 2020.

The value of money in circulation may have been due to seasonal factors though as consumers withdrew more cash for upkeep and festive spending during the last holiday. The more money in circulation the better for businesses, especially those in the food, hospitality, entertainment, travels,retail and fashion sectors.

Meanwhile deposits at the Central Bank also witnessed a 3.6% increase buoyed by positive actions by the Federal Government and commercial banks. In sum, the shares of deposit from the Federal Government, the commercial banks, and private sectors at the apex bank were 47.4%, 35.9%, and 16.7% respectively.

However, Federal revenue collected over that period fell short of expectation. That was, in part, due to shortfalls in oil and non-oil revenue components. In the end, retained revenue for the FG stood at N938.72 billion while expenditure amount to N2.07 trillion. The government was left a deficit of N1.13 trillion entering the new year.


  • Accepteer cookies
    February 23, 2020

    I am happy that I found this website, precisely the right info
    that I was looking for!

  • Kana Bears CBD Reviews
    February 24, 2020

    Heya i am for the primary time here. I came across this
    board and I in finding It truly useful & it helped me out much.
    I’m hoping to give something back and aid others such as you aided me.

  • Continue Shopping
    February 24, 2020

    Some genuinely nice and utilitarian information on this site,
    too I believe the style has fantastic features.

    February 24, 2020

    I want forgathering useful information, this post has got me even more info!

  • Peau Jeune Cream
    February 24, 2020

    Wow, wonderful blog layout! How long have you been blogging for?
    you made blogging look easy. The overall look of your site is excellent,
    let alone the content!

  • I every time emailed this weblog post page to all my friends, because if like to read it
    then my contacts will too.

  • Profile of HaddonLeah
    February 25, 2020

    Usually I do not read post on blogs, but I would like to say that this write-up very forced me to check out and do so!
    Your writing taste has been amazed me. Thank you,
    quite nice post.

  • Meridian CBD Review
    February 25, 2020

    If some one needs expert view regarding running a blog then i
    recommend him/her to pay a visit this webpage, Keep up the nice work.

    February 25, 2020

    Hi there, of course this post is genuinely good and I have learned lot of thibgs
    from iit on the topic of blogging. thanks.

  • buy Viagra Professional
    February 26, 2020

    Simply wish to say your article is as astounding.
    The clearneess in your post is simply excellent and i could assume you’re an expert on this
    subject. Well with your permission let me to grab your feed to keep up to date with forthcoming
    post. Thanks a million and please carry on the enjoyable work.

  • 繼續
    March 3, 2020

    Hello, its fastidious article on the topic of media print, we all know media is a fantastic source of

  • I’ve been exploring for a little bit for any high-quality
    articles or weblog posts in this kind of house .
    Exploring in Yahoo I eventually stumbled upon this site. Reading this
    information So i’m satisfied to convey that I have
    a very excellent uncanny feeling I found out just what I needed.

    I such a lot certainly will make sure to don?t forget this
    web site and give it a glance regularly.

Post a Comment

[email protected]