Report: Banks’ Deposits with CBN Declined 1.14% to N82.99tn in August
Kayode Tokede Nigerian banks’ deposits with the Central Bank of Nigeria (CBN) declined by 1.14 per cent month-on-month to N82.99 trillion in August 2026, from N83.96 trillion recorded in July,
Nigeria's banks deposited 1.14% fewer funds with the Central Bank of Nigeria (CBN) in August 2026, according to data released by the apex bank. The total deposits fell to N82.99 trillion, down from N83.96 trillion in July. This is the third-lowest monthly SDF placement by banks so far in 2026. The reduction in deposits was attributed to a decrease in the Monetary Policy Rate (MPR) to 26.50% in February 2026 from 27% in 2025.
Analysts noted that banks were depositing excess liquidity with the CBN through the Standing Deposit Facility (SDF) to earn interest on overnight deposits.
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