Use of Financial Services, Liabilities: Outstanding Deposits by Households at Other Financial Intermediaries for Nigeria
NGAFCLOFMXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80,468,466,400.00
Year-over-Year Change
276.20%
Date Range
1/1/2004 - 1/1/2017
Summary
This economic trend measures the outstanding deposits held by Nigerian households at non-bank financial institutions, providing insights into household financial services usage.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Use of Financial Services, Liabilities: Outstanding Deposits by Households at Other Financial Intermediaries for Nigeria tracks the value of deposits held by Nigerian households at financial intermediaries outside the traditional banking system. This metric offers visibility into the financial inclusion and intermediation patterns of the Nigerian household sector.
Methodology
The data is collected through surveys and reporting by non-bank financial institutions in Nigeria.
Historical Context
This trend is used by policymakers and analysts to assess the depth and breadth of financial intermediation in the Nigerian economy.
Key Facts
- Nigeria has a large, diverse non-bank financial sector.
- Household deposits at non-bank institutions totaled over $XX billion in the latest period.
- Financial inclusion remains a key policy priority in Nigeria.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held by Nigerian households at non-bank financial institutions, providing insights into household financial services usage.
Q: Why is this trend relevant for users or analysts?
A: This metric offers visibility into the financial inclusion and intermediation patterns of the Nigerian household sector, which is relevant for policymakers and analysts assessing the depth and breadth of financial services in the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting by non-bank financial institutions in Nigeria.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess the depth and breadth of financial intermediation in the Nigerian economy, which is a key policy priority.
Q: Are there update delays or limitations?
A: There may be delays in data reporting or limitations in coverage of the non-bank financial sector in Nigeria.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits by Households at Other Financial Intermediaries for Nigeria (NGAFCLOFMXDC), retrieved from FRED.