Nigerian Banks Boost CBN Deposits to Over N6 Trillion
Nigerian banks deposited over N6 trillion with the Central Bank of Nigeria (CBN) after the apex bank repaid N2.41 trillion in matured Open Market Operations (OMO) securities. Data from the CBN’s daily banking system liquidity reports indicate that banks’ net placements at the Standing Deposit Facility rose from approximately N3.86 trillion on 13 October to N6.08 trillion on 16 October 2026, marking an increase of N2.22 trillion or 57.65 percent.
The rise in deposits occurred after the CBN's OMO repayment on 13 October, with no new OMO sales recorded during this period. Banks maintained deposits above N6 trillion for three consecutive days.
The CBN also recorded N269.06 billion in primary market securities sales on 15 October, with a significant portion of bids rejected. Despite the increase in deposits, banks' opening balances changed only slightly, and there was no borrowing through the CBN’s Standing Lending Facility during this time.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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