May 24, 2023/FBNQuest According to the CBN’s most recent Quarterly Statistical Bulletin (QSB) for Q4 ’22, deposit money banks (DMB) total credit extension to the economy increased by 4.4% q/q to NGN29.4trn. On a year-on-year basis, DMBs’ credit to the economy increased by 20.8%. The y/y trend broadly mirrors the […]
Updates
GDP Report – Q1 2023
May 24, 2023/Coronation Report The national accounts for Q1 ‘23 by the National Bureau of Statistics (NBS) show that GDP grew by 2.3% y/y compared with the 3.5% y/y recorded in Q4 ’22. Meanwhile, on a q/q basis, it contracted by -15.7%, reflecting slower economic activity compared with the preceding […]
MPC Meeting Update – May 2023
May 24, 2023/InvestmentOne Report In the 3rd MPC meeting of the year, the Committee unanimously voted to RAISE policy rate further by 50bps to 18.50% with other policy parameters unchanged. Other parameters retained were: The asymmetric corridor of +100/-700 basis points around the MPR; The CRR at 32.50%; and […]
