Credit to private sector recorded a significant increase of 8.6 per cent or N2.27tn in five months.
This showed an increase of N28.67tn in April 2020, from N26.4tn in November 2019.
According to the Central Bank of Nigeria’s depository corporation survey, credit to the government also rose to 14.6 per cent or N1.33tn to N10.43tn during the period.
However, the CBN credit to the economy increased by 10.1 per cent or N3.5tn to N39.1tn in April, from N35.5tn which was recorded last year.
According to the report, Broad money supply (M3 money) rose by 0.19 per cent to N35.70tn in April 2020.
Net domestic assets increased 1.8 per cent to N29.78tn as against 7.52 per cent decrease in net foreign assets to N5.92tn.
On domestic asset creation, the increase in NDA was chiefly driven by 2.96 per cent increase in net domestic credit to N39.10tn.
Further breakdown of the NDC showed 7.15 per cent increase in credit to the government to N10.43tn and a 1.51 per cent rise in credit to the private sector to N28.67tn.
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