Banks' Deposits with CBN Drop to N82.99tn in August 2026

In August 2026, Nigerian banks' deposits with the Central Bank of Nigeria (CBN) decreased by 1.14% month-on-month, reaching N82.99 trillion, down from N83.96 trillion in July. This figure represents the third-lowest monthly Standing Deposit Facility (SDF) placement by banks in 2026.

The decline is attributed to a reduction in the Monetary Policy Rate (MPR) to 26.50% in February 2026 from 27% in 2025, alongside changing liquidity conditions and banks' pursuit of better returns on available funds. The CBN's financial data indicated that banks had deposited N89.3 trillion through the SDF in June, with a peak of N128.92 trillion in March.

In the first eight months of 2026, banks deposited approximately N678.36 trillion with the CBN, marking a 610.58% increase compared to N95.47 trillion in the same period in 2025. Analysts from Cordros Research noted that adjustments to the asymmetric corridor impacted lending rates, while Mr. David Adnori from Highcap Securities stated that the decline in deposits does not necessarily indicate reduced bank liquidity.