Industrial banks’ deposits with the Central Bank of Nigeria (CBN) by way of the Standing Deposit Facility (SDF) surged to an all-time excessive of N5.5 trillion on Tuesday following the reimbursement of Open Market Operation (OMO) payments.
Knowledge present that the CBN repaid N731.13 billion to traders on September 30, boosting liquidity within the banking system and pushing deposits beneath the SDF to file ranges.
This got here after a earlier improve on Monday when deposits rose to N5.38 trillion, pushed by inflows from Federation Account Allocation Committee (FAAC) disbursements and earlier OMO repayments.
In September alone, the CBN carried out OMO repayments value N1.2 trillion. These included N204.9 billion on September 16, N254.9 billion on September 23, and N731.13 billion on September 30.
The heavy liquidity injections contributed to rising deposits on the apex bank.
Market knowledge additionally revealed that the typical yield throughout OMO payments fell by 44 foundation factors to 21 % on Tuesday from 21.44 % the day gone by.
Yields declined throughout all tenors, with the January 6, 2026 OMO invoice attracting sturdy investor demand, recording a 180 foundation factors drop.
Regardless of the sharp improve in SDF placements, banks’ opening balances slipped to N2.297 trillion on Tuesday, representing a 12.19 % decline in comparison with N2.338 trillion on Monday.
The event displays ongoing financial coverage tightening because the CBN continues to manage liquidity, stabilize rates of interest, and curb inflationary pressures within the financial system.
Be First to Comment