Nigeria's Financial System Hits Record ₦5.73 Trillion Liquidity After CBN Policy Shift
Nigeria's financial system liquidity has reached a record ₦5.73 trillion following the Central Bank of Nigeria's (CBN) policy adjustments during its 302nd Monetary Policy Committee meeting. The CBN cut the Monetary Policy Rate by 50 basis points to ease liquidity pressure and stimulate growth.
The system liquidity doubled to ₦5.73 trillion last week, with a significant inflow channeled through the Standing Deposit Facility. This move aims to reduce risky lending, stabilize market conditions, and lower the interbank lending rate.
The adjustment comes amidst moderating inflation, providing the MPC room to slightly loosen policy. The liquidity surge is seen as a positive step to support the Nigerian financial market.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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