Nigerian Banks' CBN Deposits Surge to N6.28tn Amid Surplus
On September 29, 2026, Nigerian banks' placements with the Central Bank of Nigeria's Standing Deposit Facility (SDF) increased to N6.28tn, marking a substantial liquidity surplus in the banking sector. This rise of approximately N264bn from N6.014tn the previous day indicates that excess funds available to banks remain high, despite the CBN's liquidity management efforts.
The balance was also N379bn higher than the N5.899tn recorded on September 25. This buildup coincided with a significant Open Market Operations (OMO) auction conducted by the CBN, which offered N2.5tn worth of securities.
The auction followed the maturity of N2.433tn in existing OMO instruments, with the new offer being only about N66.8bn above the amount returning to investors. The securities offered included N500bn of 147-day bills, N1tn of 182-day bills, and N1tn of 266-day bills, scheduled to mature between February and June 2027.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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