Banks’ Deposits with CBN Plunge 87% to N1.22 Trillion as Borrowings Drop 98%
SNOW TV NEWS DESKNigerian banks significantly reduced their reliance on the Central Bank of Nigeria's (CBN) short-term liquidity management facilities in October 2026, with both deposits and borrowings from the apex bank recording sharp declines.Data from the CBN's financial records show that deposits made by banks through the Standing Deposit Facility (SDF) fell by 87 per cent month-on-month to N1.22 trillion in October, compared with N9.4 trillion recorded in September.Similarly, banks' borrowing from the apex bank through its Standing Lending Facility (SLF) dropped by 98 per cent to N15 billion from N920 billion in the preceding month.The figures point to a significant shift in how financial institutions managed their liquidity during the review period, although the ...