Lagos - The total amount of deposit money banks’ (DMBs’) reserves with the Central Bank of Nigeria (CBN) reduced to N3.7 trillion as at February 2014.
The latest CBN money and credit statistics for February showed that the amount represented a reduction of N116 billion, compared to the N3.816 trillion recorded in January 2014, reports ThisDay.
The data also showed that Narrow Money (M1), which includes all physical monies such as coins and currency along with demand deposits and other assets held by the Central Bank fell to N6.663 trillion from N6.754 trillion during this period.
Read more at ThisDay.
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