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Nigeria: Why Banks Cut CBN Deposits By N942bn in One Day

Published by AllAfrica 8 October 2026 at 09:22
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Nigeria: Why Banks Cut CBN Deposits By N942bn in One Day
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What the report says

[Daily Trust] Banks sharply reduced their overnight deposits with the Central Bank of Nigeria (CBN) through the Standing Deposit Facility (SDF) by N941.85 billion in one day, as the apex bank continued to withdraw excess liquidity from the financial system through Open Market Operations (OMO).

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