By Adedapo Adesanya

Nigeria’s broad money supply (M3) dropped to N123.36 trillion in January 2026, from N124.4 trillion in December 2025, signalling a modest contraction in system liquidity amid intensified tightening measures by the Central Bank of Nigeria (CBN).

According to the latest money and credit statistics from the CBN, marginal declines were recorded in currency outside the banking system and total currency in circulation, reflecting easing cash demand after the year-end festive surge.

Currency held outside banks dropped 3.66 per cent to N5.21 trillion in January from N5.41 trillion the previous month. Total currency in circulation similarly moderated to N5.73 trillion from N5.732 trillion, underscoring stable but adjusting liquidity conditions at the year’s start.

These shifts highlight Nigeria’s persistent reliance on physical cash, especially in the informal sector, even as the CBN ramps up efforts to sterilise excess liquidity through Open Market Operations (OMO) and Treasury bill issuances. Broad money supply (M3)—encompassing currency in circulation, demand deposits, savings, time deposits, and foreign currency deposits—reflects these policy actions aimed at curbing inflation and stabilising the foreign exchange market.

A deeper look at components shows different outcomes. For instance, net foreign assets plunged to N29.6 trillion, driven by reduced foreign currency holdings, while net domestic assets rose to N93.76 trillion, buoyed by domestic credit growth.

The January dip follows a familiar seasonal trend. Cash outside banks spiked to N5.41 trillion in December 2025 from N4.91 trillion in November, mirroring the N5.13 trillion surge from November 2024’s N4.65 trillion amid festive spending and informal sector activity.

Earlier in 2025, the trend fluctuated but stayed elevated: N4.65 trillion in October, N4.46 trillion in August (after July’s N4.42 trillion), N4.49 trillion in June, N4.63 trillion in May, N4.57 trillion in April, N4.60 trillion in March, N4.51 trillion in February, and N4.74 trillion in January.

Total currency in circulation echoed this, climbing to N5.26 trillion in November 2025 from October’s N5.06 trillion, with relative stability in the third quarter (N4.95 trillion in September, N4.92 trillion in August and July) and second quarter (N4.92 trillion in June, N5.01 trillion in May).

First-quarter figures hovered around N5 trillion: N5.01 trillion in April, N5 trillion in March, N5.03 trillion in February, and N5.04 trillion in January.

By Modupe Gbadeyanka

To celebrate women while also creating a platform where meaningful conversations around leadership, ambition and opportunity can take place, United Bank for Africa (UBA) Plc, will hold a special edition of its impactful quarterly UBA Business Series on Wednesday, March 12, 2026.

The event, themed gen w- ‘The Evolved Woman, will begin at 11 am at the UBA House, Lagos, and will be streamed live across all UBA digital platforms. Interested participants can register to attend virtually or in person via on.ubagroup.com/tfig.

The conversation will centre around women intensely forward, highlighting a new generation of women who are not simply seeking opportunities but confidently creating them. The discussion will explore how women today are shaping industries, leading businesses, and redefining success on their own terms.

A statement from the lender disclosed that this special UBA Business Series would bring together an array of accomplished female leaders and professionals who will share insights, experiences and practical strategies for navigating ambition, leadership and growth in today’s dynamic environment.

It will feature an inspiring line-up of speakers, including entrepreneur and founder of ORÍKÌ Group, Joycee Awosika; media personality & entrepreneur, Tomike Adeoye; entrepreneur and founder of Fine Funky, Olufunke Davies; and award-winning broadcaster, Ayo Mario-Ese. The conversation will be hosted by media personality and actor, Tobi Bakre.

Panellists will share their personal journeys and perspectives on navigating professional spaces, building resilient businesses, embracing authenticity and redefining leadership as women in a rapidly evolving global landscape.

“The modern African woman is evolving in remarkable ways. She is bold, visionary, and intentional about the spaces she occupies.

“Through this edition of the UBA Business Series, we want to celebrate women while also creating a platform where meaningful conversations around leadership, ambition and opportunity can take place,” the Group Head of Marketing and Corporate Communications for UBA, Ms Alero Ladipo, stated.

The quarterly UBA Business Series has become a key knowledge-sharing platform designed to equip entrepreneurs, professionals and business leaders with insights, tools and strategies needed to grow sustainable enterprises as well as navigate the evolving business landscape.

UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally.

Operating in 20 African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, the bank provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

By Aduragbemi Omiyale

The capitalisation of Alpha Morgan Bank has been affirmed by the Central Bank of Nigeria (CBN), reflecting the lender’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and improved service delivery to customers.

This development marks an important milestone in the company’s growth journey and reinforces its commitment to building a strong, resilient, and future-ready financial institution.

With this milestone, Alpha Morgan Bank is well-positioned to continue expanding its footprint with its 14 approved branches across different states, while deepening inclusivity and enhancing the range of banking solutions available to individuals, businesses, and institutional clients nationwide.

As it enters the next phase of its journey, the institution said it would continue to scale its operation, invest in technology, expand its branch network and digital banking presence, whilst delivering reliable and satisfying banking experiences to its growing customer base.

The Managing Director of Alpha Morgan Bank, Mr Ade Buraimo, expressed the readiness of the financial institution to ensure compliance with regulatory requirements and a good governance framework, while delivering satisfying banking services along the long-term vision of the bank to become the best bank to work and a strong financial institution to reckon with.

“Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future.

“The affirmation of Alpha Morgan Bank capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect,” Mr Buraimo said.