The Central Bank of Nigeria said bank deposits rose by N6.95tn between February 2019 and February 2020.

The Central Bank of Nigeria said bank deposits rose by N6.95tn between February 2019 and February 2020.

The CBN disclosed this in its report on some of the personal statements of members of the Monetary Policy Committee.

Part of the statement noted there were moderate declines in returns on equity and returns on assets and a significant rise in the share of operating incomes in total interest incomes of Deposit Money Banks.

The CBN also disclosed in its latest monthly economic report for January that broad money supply (M3) declined in January 2021 due, largely, to the fall in net domestic assets of depository corporations, which more than offset the growth in net foreign assets.