Bank deposits as a share of GDP reached 17.4 % in 2017 in Nigeria, according to the National Central Bank. This is 3.88 % less than in the previous year.
Historically, bank deposits as a share of GDP in Nigeria reached an all time high of 24.5 % in 1984 and an all time low of 5.82 % in 1970. When compared to Nigeria's main peers, bank deposits as a share of GDP in Cameroon amounted to 17.8 % and 10.3 % in Chad in 2017.
Nigeria has been ranked 97th within the group of 101 countries we follow in terms of bank deposits as a share of GDP, 17 places above the position seen 10 years ago.
A bank deposit is money placed into a banking institution for safekeeping.