Nigeria, Oct. 22 -- Nigeria's broad money supply mushroomed to N7.51 trillion to N146.60 trillion in September 2026 after a huge rise in credit to the government despite a contraction in loans to the private sector.

According to the Central Bank of Nigeria (CBN) M3 - a measure of broad money, increased 5.4 percent to N139.09 trillion from its August level.

The News Chronicle reports that net credit to the government jumped to N39.40 trillion in September from N33.04 trillion in the preceding month as the government's debt sucking capacity grew.

Meanwhile, credit to the private sector slumped by N537.6 billion to N83.93 trillion from N84.47 trillion in August.

The increase in broad money supply came as CBN cut the Monetary Policy Rate...