Monetary survey, Analytical balance sheet, Payment system, Money-holding behavior, Nominal output


The paper showed that Nigeria's monetary survey is a useful tool in the analysis of monetary development and its linkages with key sectors of the economy. It conveys a useful insight on the evolution of the payment system and money holding behavior. Findings indicated that Nigeria's broad money aggregate was largely determined by external factor, pre-2007 global financial crisis, while domestic factors had significant implications for monetary management post-2007.

Author Bio

The authors are staff of the Research Department, Central Bank of Nigeria.

Publication Title

CBN Bullion





Included in

Economics Commons


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