Developments in the Financial System during the Second Quarter of 1987

Authors

Central Bank of Nigeria CBN, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Financial System, Finance, Nigeria, Second Quarter

Abstract

Money supply, Ml declined by_ a further 3.5 per c~nt in the second quarter of 1987 followmg the seasonal decline of 3.8 per cent in the first quarter. The broader ~easure of money stock, M2 which declined by 0.8 per cent m the first quarter, showed an increase of 1.4 per cent in the second quarter. While sharp declines in "other" assets (net) ~d foreign assets depressed Ml in the first quarter, the ma1or contractionary factor in the second quarter was the sharp increase in quasi-money. The pace of expansion of banking system credit to the domestic economy quickened in the second quarter following the increase of 0.6 per cent in the first quarter.

Author Bio

The authors are staff of the Money and Banking Office, Domestic Finance Division, Research Department, Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review

Issue

2

Volume

25

Recommended Citation

Central Bank of Nigeria (1987). Developments in the Financial System during the Second Quarter of 1987. CBN Economic and Financial Review. 25(2), 2-8.