The Central Financial institution of Nigeria (CBN) has acknowledged that it’s credit score to banks in February 2022 stood at N255.75 billion
The Apex Financial institution in its month-to-month financial report, acknowledged that the determine is lower than N333.59 billion borrowed by the banks in January.
This brings the quantity borrowed by the banks from the Standing Lending Facility to N595.34 billion within the first two months of the 12 months.
In accordance with the report, “Subdued actions within the SLF window and the robust patronage on the Standing Deposit Facility affirm elevated liquidity within the banking system. Actions on the standing facility window mirrored ease in banking system liquidity through the assessment interval.
“The overall SDF elevated considerably by 60.79 per cent, to N472.38bn, from N293.79bn in January 2022. Conversely, transactions on the SLF decreased by 24.69 per cent, to N255.75bn, from N339.59bn in January 2022.”
In the meantime, the CBN says elevated liquidity within the banking system was accountable for the autumn in lending to the banks in February.