Total deposits in the banks rose by 24.17 per cent from N33.85tn as of the end of June 2021 to N42.03tn in the corresponding period of 2022.
The Deputy Governor, Financial Systems Stability Directorate, Aishah Ahmad, who disclosed this in her personal statement at the last MPC meeting, said that Key industry aggregates also continued their year-on-year upward trajectory, with total assets rising to N65.48tn in June 2022 from N53.64tn in June 2021.
She added that while total deposits rose to N42.03tn from N33.85tn over the same period, gross credit has maintained an upward trajectory since 2019, rising by N5.02tn between June 2021 and June 2022 with significant growth in credit to manufacturing, general commerce and oil & gas sectors.
