CBN Increases Loans To Govt By N3.77trn In Two Months

According to information provided by the Central Bank of Nigeria (CBN), government loans increased by N3.77 trillion in the first two months of 2023.

CBN’s most recent information on “Money and Credit Statistics,” which encapsulates the development, was received by Ripples Nigeria.

The data show that at the end of February 2023, the CBN’s total credit to the government was N28.43 trillion. The credit to the government (net) increased from N24.65 trillion in December 2022 to N26.63 trillion in January.

According to the report, the CBN lent the government N1.9 trillion in January and N1.8 trillion in February.

Last year, the apex bank received harsh criticism for allegedly supporting the FG using methods that were against the law.
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