Central Bank of Nigeria
Money, Credit, Banking, Fourth Quarter
The growth of the money stock maintained the high tempo observed since the third quarter. The acceleration was influenced by the sharp rise in foreign assets ( net) of the banking system and the increase in credit (net) to the domestic economy. Credit (net) to the government sector rose sharply while merchant banks' credit to the private sector was excessive. The expansion in the number and activities of commercial and merchant banks continued into the fourth quarter. The banks' assets and deposit liabilities increased substantially. The overall liquidity of the commercial banks increased while that of the merchant banks decreased slightly during the quarter.
CBN Economic and Financial Review
Central Bank of Nigeria (1990). Developments in Money, Credit and Banking in the Fourth Quarter of 1990. CBN Economic and Financial Review. 28(4), 3-10.